Savers Shift to 4.15% CDs and 4.10% Accounts as 4.2% Inflation Erodes Cash
Updated
Updated · CBS New York · Jun 11
Savers Shift to 4.15% CDs and 4.10% Accounts as 4.2% Inflation Erodes Cash
3 articles · Updated · CBS New York · Jun 11
Summary
4.2% inflation is leaving money in traditional savings accounts losing purchasing power, with the average rate at just 0.38%.
4.15% 18-month CDs, 4.11% 1-year CDs and 4.10% 6-month CDs are being highlighted as ways to lock in returns that roughly keep pace with current inflation.
4.10% high-yield savings accounts offer similar protection while preserving access to deposits and withdrawals, though their rates can move with market conditions.
Low odds of a near-term rate cut — and some chance of a later hike — support the case for moving cash online, where banks often offer stronger rates and terms.