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Here’s how CD rates fell in the year after those emergency rate cuts of 2020 were made: From June 2020 to June 2021, the average one-year CD dropped to 0.17 percent APY from 0.41 percent APY.
The Federal Reserve increased interest rates to combat inflation, causing CD rates to surge — they started at around 4% in 1971 and reached nearly 13.5% by the end of 1979. The 1980s
The rate cuts sought to support the U.S. economy with cheaper loans, and that took CD rates down from highs seen the years prior. The very rich CD yields in 2022 and 2023 were driven by a two-year ...
Here are today’s highest CD rates: View this interactive chart on Fortune.com. ... Last year, the Fed cut interest rates three times, leaving Fed funds at 4.25%-4.50% as of December 2024 ...
Image source: Getty Images. For most of 2024, certificates of deposit (CDs) had been offering their highest rates in decades. If you shopped around, you could get a CD with a 5.50% APY or higher.
At the conclusion of its first rate-setting policy meeting of the year, on January 29, 2025, the Federal Reserve announced it was leaving the federal funds target interest rate at 4.25% to 4.50% ...