Will CD and savings interest rates go higher? What to know now [CBS News]
Merchants Bancorp (MBIN)
Last merchants bancorp earnings: 1/30 04:05 pm
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Source: CBS News
early to tell if that report was an indication of worse economic news to come, it wasn't what economists were hoping for, either. With stubborn inflation comes higher interest rates meant to defeat it. But after the Federal Reserve raised rates to a 22-year high last month, many are now wondering if the end of rate hikes really is imminent — or if they'll continue to increase as the year progresses. Higher interest rates make borrowing more expensive. But they also raise the benefit of traditional savings vehicles, like certificates of deposit (CDs) and high-yield savings accounts . Rates on both are exponentially higher than they were a few years ago, and many times greater than what can be secured with a regular savings account . But, in light of recent developments, will CD and savings interest rates go even higher? Start by exploring your savings account options here to see how much more you could be earning Will CD and savings interest rates go higher? While many expert
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