There's a compelling case to be made for choosing a high-yield savings account over a CD this season.
While the interest rate climate of the last two years has been largely unfavorable for borrowers, it's been a boon for savers who have been able to capitalize on it. With returns on many savings vehicles exponentially higher than they were just a few years ago, savers have been able to buffer the costs of elevated inflation and interest rates with higher earnings on their money.
So, if rates rise, so will what you can earn with a high-yield savings account — all while a CD stays stuck at the rate the account was opened with.See what rate you could get on a high-yield savings account here now.Inflation is still a concernHope was high at the start of the year that this inflation cycle was on a permanent downward trend. But the first three reports of the year showed it still coming in hot, with prices still high in a variety of sectors.
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