Beginning in March 2022, the Federal Reserve began raising interest rates in an attempt to mitigate high inflation. Over the course of the last two years, the Federal Reserve has raised interest rates 11 times resulting in targeted interest rates that are 5.25% higher than they were at the beginning of 2022.

In this episode, we discuss how the rapid increase in interest rates has resulted in certificates of deposit (CDs) paying over 5% to savers. With the increase in CD rates, the advertisement of CD specials has exploded with nearly every bank marketing their attractive CD rates to the public. Naturally, this has led many individuals to ask the question whether CDs are right for them.

If you are interested in learning about CDs and points to consider when determining if they are appropriate for your situation as well as alternatives that may make more sense in specific cases, we think you’ll enjoy this episode. Thanks for listening!

For more details on certificates of deposit, check out our blog post covering the same topic at https://pw-wm.com/learn/investing/cd-rates-are-over-5-should-you-buy-them/.