The CD Rate Conundrum: A Cautionary Tale for Savvy Shoppers The Federal Reserve's decision to keep interest rates unchanged this year has sent a clear signal to consumers that it's time to act fast if they want to lock in competitive CD rates.
With the best APY hovering at 4%, investors face a dilemma: should they opt for a shorter term CD or take their chances on a longer, potentially more lucrative one?
When the Fed raises interest rates, banks and credit unions typically follow suit by increasing their APYs.