CD Rates Could Stay High in 2024, But Economic Factors May Lead to Declines

CD interest rates could stay elevated into 2024, around 5.5% for various terms according to experts.

Factors like inflation, Fed policy, and the economy will determine if rates rise, stay put, or drop in 2024.

A recession could lead to rate decreases, while high inflation may keep rates stable or rising.

Experts suggest using a CD ladder strategy to offset potential rate declines.

Now may be a good time to lock in a high CD rate for your savings goals before rates potentially drop.