3 CD moves to make with inflation increasing

News last week that inflation rose the month prior (after increasing in the month before that) wasn’t welcome for millions of Americans, but particularly for borrowers. Not only has inflation made the cost of many everyday products prohibitive, but it’s also resulted in higher interest rates in an attempt to rein it in, thus making loans and credit cards more expensive.

And while those higher rates haven’t benefited borrowers, they’ve resulted in a great earnings opportunity for savers. It’s not difficult to find a high-yield savings or certificate of deposit (CD) account that’s outpacing the inflation rate right now.

As with all financial products and services, however, the timing behind opening these accounts is key. This is especially true for CD account holders, who have to deal with different restrictions than those who have savings accounts. For these savers, then, it may make sense to make certain CD moves now with inflation rising again. Below, we’ll break down three important steps to take.


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