economy
Will CD account interest rates rise this summer? Experts weigh in
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TL;DR
- CD rates are predicted to hold steady through the summer, with national averages ranging from 0.21% to 1.50%.
- Higher-paying CD accounts may offer rates around 4.10% to 4.15%.
- The Federal Open Market Committee's (FOMC) decisions on interest rates, influenced by inflation and economic factors, will impact future CD rates.
- While current rates are historically high, future direction depends on inflation data and the Fed's next meetings.
- Strategies like CD laddering and shopping for promotional offers can help maximize returns.
- High-yield savings accounts and money market accounts are alternative options for earning interest with greater flexibility.