Both short-term CDs and long-term CDs have attractive features for savers this June. But which is better to open?
With Memorial Day in the past and summer unofficially underway, many Americans may find themselves looking for new and secure ways to grow and protect their money. While inflation has significantly cooled from its decades-high in June 2022, it remains sticky going into June 2024 at 3.4% — more than a full percentage point over the Federal Reserve's target 2% goal.
If you were to open a long-term CD instead, however, you'd lose the ability to more accurately time your savings strategy to today's evolving rate climate. Plus, short-term CDs typically have slightly higher rates than long-term CDs right now , making them an optimal choice for those looking for the highest return possible.Learn more about your short-term CD account options online.
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