3-Year CDs Offer Attractive Returns Amid Inflation Concerns

As the Federal Reserve is expected to cut interest rates in 2024, savers are advised to consider long-term CDs for better returns.

With inflation over 3%, regular savings accounts are losing money, making 3-year CDs a more attractive option.
High-yield savings accounts offer rates above 5.5%, but these rates are variable and may change over time.
3-year CDs offer fixed rates, protecting against future rate drops until the account matures.
Federal Reserve is expected to cut interest rates in 2024, which could lead to a drop in CD interest rates.
Long-term CDs may be a better option for those who don't need immediate access to their money, while short-term CDs offer more flexibility.