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renew CD or wait?

By Terry Savage on January 15, 2022 | Chicken Money

I have some small Cd’s coming due. Would it be wise to cash them in and put it in a savings account, until the FED’s raise the interest rates this year and then put them back into Cd’s. This is my only savings

Terry Says

I don’t think it’s going to make much difference. Banks have so much money floating around that they don’t need to offer higher rates to attract depositors. So either put it in a money market deposit account or a one-year CD and we will see what inflation and interest rates are doing then!

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