These CD accounts currently have an APY of over 5.6%, some of the highest rates on the market. Savings rates have been continuously increasing since March of last year, when the Fed began hiking interest rates to fight steep inflation. Since then, the Federal Reserve has raised interest rates 11 times, bringing the federal funds rate to a target range of 5.25% to 5.5%. And although this means higher commercial interest rates, there is a bright side. Rates on savings vehicles, like CDs and high y
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