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CD Rates Rise

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With Unemployment figures down, CD rates are headed in the wrong direction.

Fed Chair Bernanke said in testimony to congress that the economy was up against strong "headwinds", and the Fed would keep rates low for an "extended period" of time.

This is bad news for CD Rates because the interest rates are already quite low due to the economic uncertainty.  On the other side if the economy improves investors may return to the stock market and then banks may be forced to improve CD rates.

About John Krystof

John Krystof writes about personal finance and money matters for RateZip.com. He was born and educated in Central Europe, but presently resides in New York City.

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