Will CD Rates Climb Higher? The Clues in Today’s Fed Announcement

Key Takeaways

  • The Federal Reserve announced today that, for a second meeting in a row, it’s maintaining interest rates at the current level.
  • The rate-hold decision was overwhelmingly expected, so it was no surprise to banks and credit unions.
  • The Fed left the door open to a future rate hike if inflation doesn’t come down sufficiently and reliably.
  • The best CD rates are already at their highest level in 20 years—up to a record 6.50% APY. But they could still move higher if the Fed…

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