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Inflation’s falling. Here’s why you should open a CD now.

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By opening a CD with a bank now, you can lock in a high rate before they potentially drop in 2024.

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Millions of Americans received some welcome news on Tuesday when a new report showed inflation easing in November. The Consumer Price Index increased by 0.1% in the month, leaving it 3.1% higher than a year ago, the Labor Department reported. It was 3.2% for October. While that may not be the decrease many were hoping for, it’s still a move in the right direction and an indicator that the Fed’s aggressive rate hikes over the last year and a half have been successful at lowering inflation.  

As inflation cools, however, rates are likely to remain paused and may even drop a bit in 2024. This could be beneficial for borrowers but may not be as advantageous for savers, thus underlining the importance of opening a high-interest-earning account now. There are multiple timely reasons for doing so, particularly for those who want to open a certificate of deposit (CD) account. 

Start by exploring your CD account options here to see how much more you could be earning.

Why you should open a CD with inflation falling

Here are three timely reasons why you should open a CD now.

Interest rates are still high

Interest rates on CDs won’t immediately fall as soon as inflation cools. So today’s rates, for example, will still be high, with many in the 5% to 5.5% range. By opening a CD with that APY, you could earn significantly more than you would by leaving your money untouched in a regular savings account. 

The latter account, for example, only comes with an average rate of just 0.46% currently. By leaving your money in that account, then, you’re essentially losing money. No matter which CD term you choose — short or long ± you’ll make exponentially more than you would with a regular account.

Crunch the numbers to see how much more you could be making now.

Interest rates are locked

Rates on high-yield savings accounts are also high right now, leading many to wonder why they should open a CD instead. But unlike variable high-yield savings accounts, CDs have their rates locked in for the full term. So if rates drop at some point in 2024 — as many are forecasting — the rate you opened the CD with in December 2023 will remain the same. 

This will allow your savings to grow at a higher rate, and it will inject some predictability into your budget by allowing you to know exactly how much money you’ll have when the CD expires. And it can protect against unfavorable rate drops, not just in 2024, but for the years to come if you elect to proceed with a long-term CD instead.

Interest rates will likely fall soon

If inflation continues its downward trend, interest rates will soon follow, meaning that now may be your final window of opportunity to open a CD with a high APY. It’s certainly possible that rates on these accounts can hit these heights again, but no one knows when or if that will even happen, not to mention the economic circumstances that could cause that scenario. 

Instead, you’re better off taking advantage of the rate climate as is by locking in a high rate. This will protect your funds from any rate drops in the future while allowing your money to grow uninterrupted at that elevated rate.

Get started with a CD here now.

The bottom line

Inflation has led to a poor climate for borrowers but an attractive one for savers. But there are real signs that those dynamics will be changing in 2024. For those interested in opening a CD, then, it’s beneficial to act now before inflation falls further and the interest rate environment becomes less favorable. By opening a CD promptly, savers will still be able to secure a great rate, and they’ll have that great rate locked, which will then provide them protection against any rate decreases to come, too. 



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Indiana Fever fire coach Christie Sides after Caitlin Clark’s breakout season

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The Indiana Fever fired coach Christie Sides on Sunday, the organization announced.

Sides went 33-47 in her two seasons with the squad, including going 20-20 this season. The Fever made the playoffs as the sixth seed and were swept in the first round by the Connecticut Sun.

Indiana is the sixth team to make a coaching change this offseason, joining Dallas, Atlanta, Chicago, Washington and Los Angeles. All of the coaches let go had three years or less experience.

Fever-Sides Basketball
Indiana Fever head coach Christie Sides reacts during Game 2 of a first-round WNBA basketball playoff series against the Connecticut Sun, Sept. 25, 2024, in Uncasville, Conn.

Jessica Hill / AP


Whoever takes over the Fever will have a strong young core to work with, led by Caitlin Clark and Aliyah Boston. The pair have won the last two WNBA Rookie of the Year awards.

“We are incredibly thankful to Coach Sides for embracing the challenge of leading us through an integral transition period over the last two seasons, while also positioning us well for future growth,” Fever president of basketball operations Kelly Krauskopf said.

“While decisions like these are never easy, it is also imperative that we remain bold and assertive in the pursuit of our goals, which includes maximizing our talent and bringing another WNBA championship back to Indiana. Coach Sides was an incredible representative of the Fever and our community, and we wish her nothing but success in the future.”

Krauskopf came back to the Fever earlier this month after spending time with the Indiana Pacers.

Fever Sparks Basketball
Indiana Fever guard Caitlin Clark (22) is greeted by coach Christie Sides after a foul during the first half of the team’s WNBA basketball game against the Los Angeles Sparks in Los Angeles, Friday, May 24, 2024.

Ashley Landis / AP


Sides was a longtime assistant in the league, spending time with Chicago (2011-16), the Fever (2017-19) and Atlanta (2022) before getting the head coaching job. She replaced Marianne Stanley and her interim successor, Carlos Knox, who coached in the 2022 season.

Sides had two years left on her contract.

The Fever haven’t had a head coach last for more than three years since Lin Dunn, who coached from 2008-14. Since then, they’ve had Stephanie White (2015-16), Pokey Chatman (2017-19) and Stanley (2020-22).

Indiana had a brutal schedule to start the season and lost eight of their first nine games. The Fever finally got going after the Olympic break, winning seven of eight to get into playoff contention.



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Pennsylvania top election official says that 2020 ligation upheld that “elections were accurate”

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Pennsylvania’s top election official said Sunday that the commonwealth’s 2020 elections were “accurate,” while saying Pennsyvlania is “not susceptible to any sort of widespread voter fraud” — and he said officials are preparing with heightened security to combat threats as Election Day draws near.

“Time and time again, in many dozens of cases in 2020, every one of those cases upheld that our elections were accurate and that we’re not susceptible to any sort of widespread voter fraud or anything like that,” Secretary of the Commonwealth of Pennsylvania Al Schmidt said Sunday on “Face the Nation with Margaret Brennan.”

The issue of election integrity is top of mind in battleground Pennsylvania, where last week, the Lancaster County district attorney reported incidents of voter registration fraud among a group of around 2,500 ballots. Schmidt said the country reached out to his office “right away” for guidance and is pursuing an investigation “responsibly.” And the top election official said he’s working with counties to provide the resources needed “so that we have a free, fair, safe and secure election in 2024 just as we had in 2020.”

Meanwhile, election officials are combating threats to election workers. Schmidt said in 2020, officials had to “scramble to figure out when threats were incoming,” while outlining the changes put in place since then, including an election threat task force made up of federal, state and local law enforcement partners and election administration. He noted that open lines of communication and clear responsibilities have also made the commonwealth better prepared. 

“So that if any of the ugliness returns that we experienced In 2020, everyone will be ready,” Schmidt said.

Schmidt committed to certifying the election results even if the winner is of the opposite political party, as did Arizona Secretary of State Adrian Fontes, who also appeared on “Face the Nation” on Sunday. 

Fontes said the state’s safety and security protocols surrounding election results tabulation are a stark departure from recent years. 

“It’s absolutely, completely different from 2020. In fact, I remember in 2018 our greatest security threat was a rattlesnake in the parking lot at the Pinnacle Peak Precinct,” Fontes said. “So this is a radically different set of circumstances that we are dealing with, but we are prepared, and we’re going to have a secure election.”



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Pennsylvania top election official says that 2020 ligation upheld that “elections were accurate”

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Published

on


Pennsylvania’s top election official said Sunday that the commonwealth’s 2020 elections were “accurate,” while saying Pennsyvlania is “not susceptible to any sort of widespread voter fraud” — and he said officials are preparing with heightened security to combat threats as Election Day draws near.

“Time and time again, in many dozens of cases in 2020, every one of those cases upheld that our elections were accurate and that we’re not susceptible to any sort of widespread voter fraud or anything like that,” Secretary of the Commonwealth of Pennsylvania Al Schmidt said Sunday on “Face the Nation with Margaret Brennan.”

The issue of election integrity is top of mind in battleground Pennsylvania, where last week, the Lancaster County district attorney reported incidents of voter registration fraud among a group of around 2,500 ballots. Schmidt said the country reached out to his office “right away” for guidance and is pursuing an investigation “responsibly.” And the top election official said he’s working with counties to provide the resources needed “so that we have a free, fair, safe and secure election in 2024 just as we had in 2020.”

Meanwhile, election officials are combating threats to election workers. Schmidt said in 2020, officials had to “scramble to figure out when threats were incoming,” while outlining the changes put in place since then, including an election threat task force made up of federal, state and local law enforcement partners and election administration. He noted that open lines of communication and clear responsibilities have also made the commonwealth better prepared. 

“So that if any of the ugliness returns that we experienced In 2020, everyone will be ready,” Schmidt said.

Schmidt committed to certifying the election results even if the winner is of the opposite political party, as did Arizona Secretary of State Adrian Fontes, who also appeared on “Face the Nation” on Sunday. 

Fontes said the state’s safety and security protocols surrounding election results tabulation are a stark departure from recent years. 

“It’s absolutely, completely different from 2020. In fact, I remember in 2018 our greatest security threat was a rattlesnake in the parking lot at the Pinnacle Peak Precinct,” Fontes said. “So this is a radically different set of circumstances that we are dealing with, but we are prepared, and we’re going to have a secure election.”



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