Why Choosing Longer-Term CDs Over High Rates Makes Sense for 2024
Tuesday, 12 March 2024, 19:30
Long-Term CD Strategy
I want to open a new CD in March, but I know off the bat that I don't care about getting the highest rate. Find out why.
Impact of Fed's Actions
- The Federal Reserve raised interest rates in 2022-2023 to curb inflation.
- Higher rates resulted in benefits for savers but increased borrowing costs.
Reasoning for Long-Term CDs
- Expectation of interest rate cuts in 2024 affecting CD rates.
- Choosing a longer-term CD for steady returns aligning with future needs.
It's a matter of your own needs and goals. Consider your long-term financial strategy when choosing CD investments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.