Today's high CD interest rates are paused, but they may not stay that way for long. Here's why you should act now.
When it comes to personal financial decisions, the timing has to be right. If you open an account or buy an insurance policy too early, for example, you may get little back on your investment. But if you wait too long, you may also miss the window of opportunity to reap big returns. This is particularly true in today's economy, as inflation continues to eat away at the purchasing power of the dollar and higher interest rates result in higher borrowing costs.
By depositing $5,000 into a one-year CD now, you could make hundreds of dollars in interest on your money.Get started with a CD account here today.But interest rates are paused nowWhile CD interest rates are high now, they're also on pause after the Federal Reserve declined to issue another rate hike to their benchmark interest rate range this week.
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