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Savers: Here Comes Bad News (And It Could Get Worse)

MATT KRANTZ
Savers: Here Comes Bad News (And It Could Get Worse)

Stock investors love the Fed's apparent willingness to cut short-term interest rates. The yield on five-year certificates of deposit dropped to 1.39% as of June 21, says Greg McBride, chief financial analyst at Bankrate.com. Banks are pre-emptively cutting CD yields to protect themselves in case the Fed moves rates lower, McBride says.