Inflation Remains High, Prompting Strategic CD and Savings Account Moves

Despite a slight decrease in inflation rates, financial experts advise savers to consider CDs and high-yield savings accounts to maximize returns.

January's inflation rate rose 3.1% year over year, indicating a persistent inflationary environment despite a slight improvement from December's 3.4%.
Financial experts recommend opening CD accounts now to take advantage of high interest rates, with some rates going as high as 7%.
Laddering CD accounts and mixing account types are strategic moves to earn high rates today while being positioned for future gains.
Online banks and lower-profile institutions are offering the highest rates for savings and CD accounts, attracting savers with competitive returns.
Experts do not expect CD rates to increase in 2024, making now an opportune time to lock in high rates.