It’s important to be realistic about kissing your money goodbye for longer periods if you end up needing it before then, you’ll likely have to pay an early-withdrawal penalty. That makes locking in the current rate for three years or more attractive. And if there’s a recession in the next year, as many anticipate, the Fed could drive rates down more quickly. Futures market data suggest most investors believe the benchmark federal-funds rate will be at least a full percentage point lower by January.
Many on Wall Street believe the Fed could even begin to dial back rates later this year. Perhaps for those reasons, the Fed’s most recent interest rate statement hinted the central bank may pause rate hikes going forward.
Meanwhile, a series of high-profile bank failures have sparked worries about the economy. However, inflation has fallen to around 5% from a high of 9.1% last year, shortly after the hikes began. The Fed, which has been steadily raising short-term interest rates, in an effort to fight inflation announced its 10th straight interest-rate hike on Wednesday. “Whatever the three-year government bond is yielding, CDs should be yielding a bit more,” explains investment advisor Brian Frank, in Key Biscane, Fla. But spiking inflation last year prompted the Federal Reserve to fight back with a swift succession of interest-rate hikes. "een readers will enjoy the dialogue, the dark mystery, and of course, the romance.For years, CD rates languished at paltry levels. Read at your own peril – nothing is more electrifying than the hunt for truth.” “True to canon, this sleuthing tale is rife with intrigues, puzzles, and vivid danger. " quick-moving mystery distinguished by clear writing, memorable imagery, and some keen insights into human fragility." Lock is just as intriguing.The ending will leave readers wanting more from these two mystery mavens." "Mori is a well-developed, multidimensional protagonist and a lively narrator. "Darkly atmospheric, and the stakes are high." Ellen Hopkins, author of CRANK, TRICKS, AND TRAFFICK “A unique spin on a familiar tale makes Lock & Mori wise, witty and engaging. "Mystery lovers will be pleased to have this whodunit, which is neither Victoriana nor steampunk."
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