CD Rates Expected to Stay High in 2024 Due to High Inflation and Fed Policy
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CD rates are currently high due to elevated federal lending rates set by the Fed.
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CD rates will likely stay high in 2024 as the Fed is unlikely to cut rates drastically.
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Inflation is still above the Fed's 2% target, so rate hikes are possible if inflation persists.
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Even if the Fed cuts rates, competition between banks for deposits may keep CD rates high.
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Other factors like Treasury yields and economic conditions can also impact CD rates in 2024.