CD account moves savers should make with inflation rising again

MoneyWatch: Managing Your Money CD account moves savers should make with inflation rising again We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson June 10, 2026 / 3:03 PM EDT / CBS News Add CBS News on Google Savers can grow and protect their money with a CD account in today's inflationary climate but they'll need to take a strategic approach. Natalia Shabasheva/Getty Images With inflation almost at the Federal Reserve's target goal and three interest rate cuts issued in the final four months of 2025, savers may have understandably started this year by assuming that their window of opportunity to open a certificate of deposit (CD) account had closed. Gone were the accounts with rates as high as 6% or 7% for select savers. And with additional rate cuts expected for later in 2026, the advantages of this specific savings vehicle were only expected to decline further.But that's not what happened in the first half of the year. Inflation grew significantly in recent months against the backdrop of rising oil prices in response to the war with Iran. That delayed interest rate cuts further and then essentially eliminated them for 2026. And after inflation surged again in May, according to a Wednesday report, rate hikes are actually possible again. At a minimum, however, today's interest rates are likely to stay elevated for the foreseeable future. While that may not be a good thing for borrowers, it can be a boost for savers in today's inflationary climate, and it can be especially helpful for tho...