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Will CD Rates Be Higher in 2023?

Will CD Rates Be Higher in 2023?

The upside of putting money into a CD is that you'll generally snag a higher interest rate on your cash than what a savings account will pay you. You can also look at doing a CD ladder, where you take your available cash, divide it up, and put it into several CDs that mature at different intervals. Meanwhile, CD rates have been on the rise this year in the wake of rate hikes on the part of the Federal Reserve.