Interest rates on certificates of deposit (CDs) have fallen, and there's a chance they could fall even further this year. Since September of 2024, when the Federal Reserve began its most recent flood of federal funds rate cuts, the interest rates on CDs have been dropping. Today, the average account now pays below 2%. If you're looking to earn the highest rate possible on your savings, the outlook may be discouraging. But it doesn't mean CDs are a bad bet. In fact, you can still find accounts that pay ov ...

If you have money in a savings account, you’ve probably noticed that you’re not earning as much on your balance lately. In 2024, it was possible to earn a savings account interest rate of 5% or more. Now, the best savings account rates hover around 4% APY. And they’re still falling. Will that trend continue? There's no telling exactly how the Fed will adjust rates moving forward, but here’s how the Fed’s decisions impact interest rates and whether savings rates will go up or down at all next year. What ...