CD Rates May Peak As Fed Signals Possible Rate Cuts

• CD rates unlikely to rise further as Fed signals possible rate cuts in 2024 • Some expect CD rates to remain steady as long as federal funds rate stays the same • Many economists predict CD rates will drop if Fed cuts rates multiple times in 2024 • Current CD rates are high (5.50-5.75%) but money is locked up until maturity • Consider CD term that aligns with savings goal (e.g. 36 months for home down payment)