Maximizing Your CD Earnings: Top Rates and Long-Term Options

CD rates are at record highs due to the Federal Reserve's rate-hike campaign against post-pandemic inflation. The Fed has indicated that it's likely to further raise its benchmark rate this year, which would almost certainly nudge CD rates higher. While it's uncertain how much higher CD rates will go, signs are pointing to yes. High-yield savings and money market accounts also offer excellent returns right now, but their rates are variable. It's unlikely that the Federal Reserve will reduce rates this year.