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5 expert strategies for maximizing your CD returns this spring

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Getting big CD returns this spring depends on factors such as your liquidity needs and risk tolerance.

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With the Federal Reserve once again holding rates steady following its March meeting, savers have a continued opportunity to benefit from high interest rates on certificates of deposit (CD) accounts. In today’s environment, savers can find CDs paying above a 5% annual percentage yield (APY). However, the Fed still foresees three rate cuts happening later this year, and that could cause CD rates to fall too.

Thus, savers who want to take advantage of high CD rates before they potentially drop may want to make moves this spring. Not only might that involve opening new CDs but also being strategic about factors like what CD terms they choose.

With that in mind, it’s worth considering the below five expert-backed strategies that you might use to try to maximize your CD returns this spring. Some strategies can be used in combination with one another, while others require a choice of one over the other.

Start by exploring today’s CD rates here to see how much more you could be earning on your money.

5 expert strategies for maximizing your CD returns this spring

Here are five moves experts recommend for boosting your CD returns this season.

Match CD terms with liquidity needs

To start, it’s important to choose a CD maturity that you’re confident you can commit to. Otherwise, early withdrawal penalties can eat into returns.

To maximize returns, consumers should evaluate their individual liquidity needs when determining the most suitable CD term length that fits their needs. For example, if planning for a large purchase in the near term, a shorter-term CD may be best, while longer-term CDs can be a great yield option for those with excess funds this spring,” says Steve Goodman, managing director, and head of product and consumer banking at Chase.

See what CD term could work best for you here now.

Use short-term CDs

Another strategy is to open short-term CDs to try to maximize yield, and then when the CD term ends, do a CD rollover into another short-term CD. Or you might then choose a longer duration once the short-term CD matures, depending on the situation.

“Opting for a shorter-term CD, such as a 3-month one, allows for more frequent re-evaluation of rates, potentially taking advantage of rising rates sooner. However, this strategy requires actively monitoring the market and may result in lower overall returns if rates decrease,” says Cliff Ambrose, founder and financial advisor at Apex Wealth.

Lock in long-term CD rates

While you might find higher rates right now with short-term CDs, it’s possible that you’d be better off with a long-term CD.

“The most attractive CD rates in the market are for terms between 6 and 12 months, which isn’t normally the case, but the market is expecting rate cuts, so if someone is confident they don’t need access to the money immediately, they should look at the longest term that fits their personal situation,” says Derik Farrar, head of deposits at U.S. Bank.

Doing so could result in higher overall returns if rates fall, compared to rolling over short-term CDs.

Explore both short-term and long-term CD account options here today.

Shop for the best CD account rates

Regardless of which CD term you choose, it helps to shop around for the best CD rates to maximize your returns.

“Knowing what is offered by your current trusted bank gives you the foundation to start shopping for better rates. After that, it’s time to shop for your best deal much like you would looking for discounts on any other purchase — to see if a better offer is out there,” says Jennifer White, senior director, banking and payments intelligence at J.D. Power.

“Looking online can highlight offers from online-only banks. These online-only banks may be offering the highest rates if you are comfortable parking your money and don’t need a branch to visit,” she adds.

Build a CD ladder

Lastly, if you’re not sure which CD rate to choose, you can spread out your risk and gain consistent income by building a CD ladder.

“In this case, you open several smaller dollar amount CDs of different durations — say, 6-month, 12-month, 18-month, and 24-month CDs — so that every six months some portion of your savings is available should you need it. This helps balance earning the highest interest rates while offering access to your deposits should the need arise, without penalty,” says White.

The bottom line

CDs offer savers an opportunity to earn high interest rates in this environment and there are multiple ways to take advantage of these rates this spring. However, what works for one person won’t necessarily be best for you, as you wouldn’t want to be in a position such as having to terminate a CD early for a penalty, due to not having enough cash, for instance.

“If you’re looking to make the most of your money with your CD this spring, it’s most important to think about your own needs and goals in what you are comfortable locking into a CD for a duration,” says Courtney Shotto Mitchell, head of consumer deposit and payment products at TD Bank. “It really depends on your financial needs and time horizon of the investment you are making.”



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Kamala Harris turns to her faith in outreach to Black voters

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Atlanta – Reva Harvey didn’t know Vice President Kamala Harris would be coming to her church on Sunday. But with almost two weeks left until Nov. 5, she thought it was “essential” for her to do so. 

Harvey, a 53-year-old Black woman whose birthday was one day before Harris’, said the vice president’s visit to the New Birth Baptist Church in Stonecrest, Georgia, could help her find older Black voters and give them “the information that they need.”

“You need to hit every corner, turn every song, just to be safe,” Harvey said at Harris’ Saturday rally in Atlanta.

Harris, a Baptist, capped off a week of heightened outreach to Black voters with visits last Sunday to two churches in the Atlanta area. Her focus underscores the importance for her in activating and persuading Black voters, the core of her party’s electorate, by going to a stronghold within the community. 

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Democratic presidential nominee Vice President Kamala Harris, right, hugs an attendee at a church service before speaking at New Birth Baptist Church in Stonecrest, Ga., Sunday, Oct. 20, 2024.

Jacquelyn Martin / AP


At a CNN town hall on Wednesday night, Harris highlighted her faith, saying she prays “every day, sometimes twice a day.” 

“I was raised to believe in a loving God, to believe that your faith is a verb,” Harris said. “You know, you live your faith. And that, that the way that one should do that is that your work and your life’s work should be to think about how you can serve in a way, uplifting other people. “

She said one of the first phone calls she made after President Biden told her was dropping out of the presidential race was to her pastor. She said she “needed that spiritual kind of connection.” 

Georgia Sen. Raphael Warnock, during an appearance at a Jonesboro, Georgia, church with Harris, threw cold water on the idea Trump was siphoning off Black male support away from Harris, and got the men in the crowd to stand up and chant “real men vote.”

“This talk about Black men voting for the other… you know what I’m talking about. I don’t believe it,” said Warnock, who added “the real threat is not Trump, but not showing up.”

In recent weekends, Harris has attended multiple Black church services in southern battleground states. 

At the New Birth Baptist Church, Harris referenced the Gospel of Luke in reciting the “Parable of the Good Samaritan” and saying that first responders and those helping recovery efforts from Hurricane Helene and Milton represent “the good Samaritans walking among us.” 

Later, at a “Souls to the Polls” event at the Divine Faith Ministries in Jonesboro, Georgia, Harris was joined by music legend Stevie Wonder and Warnock, a senior pastor at Ebenezer Baptist Church. 

“This is an afternoon about faith and action,” Harris told the crowd, referencing the “Souls to the Polls” month-long mobilization of Black voters that launched last Sunday. 

Election 2024 Harris
Democratic presidential nominee Vice President Kamala Harris, left, and bishop Donald E. Battle, right, look on as Stevie Wonder speaks during a church service and early vote event at Divine Faith Ministries International, Sunday, Oct. 20, 2024, in Jonesboro, Ga.

Jacquelyn Martin / AP


The campaign has a National Advisory Board of Black Faith Leaders leading this effort through surrogate appearances in battleground states, including Harris’ own pastor, Reverend Amos C. Brown from San Francisco.

“It takes a real man to support a woman, who are not intimidated by an educated woman,” said Jamal Bryant, the senior pastor at the New Birth Baptist Church, as Harris sat in the congregation. 

Black male voter outreach 

Recent CBS News polling of the battleground states shows Harris’ support with Black voters is equal to levels President Joe Biden saw in a 2020 exit poll. But a higher number of Black men (19%) said they are supporting former President Donald Trump, compared to Black women (7%). 

Former President Barack Obama, who made history as the first Black president and has been on the trail for Harris in recent weeks, used a sobering tone to address Black men in Pennsylvania earlier this month. 

“You’re coming up with all kinds of reasons and excuses,” Obama said. “Part of it makes me think that, well, you just aren’t feeling the idea of having a woman as president.”

Recent weeks saw a heightened focus from the Harris campaign to target Black men. Last Monday, Harris released a new policy plan that was a direct appeal to Black male voters. It included a National Health Equity Initiative to focus on illnesses disproportionately impacting Black men, the legalization of marijuana and creating opportunities for Black Americans in the field, and providing up to 1 million forgivable loans up to $20,000 for Black entrepreneurs. 

When asked to compare the enthusiasm behind Harris’ campaign and Obama’s 2008 run, Harvey said while there is excitement and energy for Harris, “it’s not as hype” as she wants it to be, in part because some voters are reluctant on Harris because of her gender. 

In a MSNBC interview with Rev. Al Sharpton, Harris pointed to her Atlanta rally of over 10,000 as evidence of her support from Black men, but said, “I am very clear I must earn the vote of everyone, regardless of their race or gender.”

“What can be frustrating sometimes is to have journalists ask me this question, as though one should assume that I would just be able to take for granted the vote of Black men. I think that’s actually an uninformed perspective, because why would Black men be any different than any other demographic of voter? They expect that you earn their vote,” she said.

Harris’ running mate, Minnesota Gov. Tim Walz, touted the campaign’s proposed policies meant to help the middle class when asked what his message is to Black men in Philadelphia. 

“I think we need to make sure we’re getting out to them. We hear what they’re saying. We understand that their concern with issues, whether it’s climate, or health care, or reproductive rights, men care about that too,” Walz told Philadelphia’s 6ABC.

The Harris campaign has long contended that Black and Latino voters have remained as “persuadable” voter targets throughout the entire race, citing early investment in Black-specific advertising.

Election 2024 Harris
An attendee holds a campaign fan before Democratic presidential nominee Vice President Kamala Harris arrives to speak during a church service and early vote event at Divine Faith Ministries International, Sunday, Oct. 20, 2024, in Jonesboro, Ga.

Jacquelyn Martin / AP


Harris has also done several interviews this month with Black male journalists on platforms with predominantly Black audiences in recent days such as a Detroit radio town hall with “The Breakfast Club” and host Charlamagne tha God, with “The Shade Room” and journalist Roland Martin’s “Black Star Network.”

Black Democratic operatives say these appearances may be as effective, if not more, in convincing undecided Black voters than specific policy plans.

“It is helpful to be in the spaces and to be with validators that are not of government or of the institutions,” said Democratic strategist Joel Payne, who added that many young Black male voters who are undecided may have an already existing distrust with government. “You gotta flood the zone, and I think that’s what they’re trying to do.”

Payne viewed the Harris campaign’s targeting of Black voters as recognition they need to maintain high turnout in cities with high Black populations, such as Detroit, Milwaukee and Philadelphia, as well as with Black rural voters in Georgia and North Carolina. 

“They would not be doing that three weeks before Election Day if they didn’t feel like they needed to,” he added.

Quentin James, the president of the “Collective PAC” which boosts Black candidates, praised Harris’ policy proposals and argued it’s not “too little too late” for Harris to be looking to persuade Black voters. 

“The question is like, ‘What will people have her do? Act as if the vote is not important, and just kind of sit back and cruise? No, she’s out working, and that’s not a sign that things are bad,” James said. 



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Menendez brothers should be resentenced, Los Angeles County DA says

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Menendez brothers should be resentenced, Los Angeles County DA says – CBS News


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Lyle and Erik Menendez should be resentenced in the 1989 killings of their parents, Los Angeles County District Attorney George Gascón announced Thursday. The case will now go before a Los Angeles Superior Court judge who will decide to formally resentence both men and determine if the brothers should be released from prison. CBS News legal contributor Jessica Levinson breaks down the decision.

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McDonald’s E.Coli outbreak leads Burger King, KFC, Pizza Hut to remove onions from some locations

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Amid a deadly E. coli outbreak linked to McDonald’s Quarter Pounders, Burger King and Yum Brands are pulling fresh onions from some of their own locations.

Yum is yanking the topping from some KFC, Pizza Hut and Taco Bell locations “out of an abundance of caution,” Yum said Thursday in a statement to CBS News. Yum did not specify the locations impacted. “We will continue following supplier and regulatory guidance to ensure the ongoing safety and quality of our food,” a spokesperson for Yum said.

Burger King said it has asked the 5% of its locations that received onions from a Taylor Farms Colorado facility to dispose of them two days ago. “We are in the process of restocking them from other facilities,” according to a spokesperson.

The fast-food chain has not heard from health authorities and has not received any indications of illness, the Burger King spokesperson added.

The developments come two days after the federal health officials said an E. coli outbreak likely tied to onions used on McDonald’s Quarter Pounders had sickened at least 49 people in 10 states, killing one. McDonald’s removed the product from about a fifth of its 13,000 U.S. locations as federal and state health officials work to confirm the source of the bacteria. 

As most of those stricken reported eating McDonald’s Quarter Pounder burgers, investigators are working to figure out if slivered onions or beef patties are behind the outbreak. 

McDonald’s locations in Colorado, Kansas, Utah, Wyoming and parts of Idaho, Iowa, Missouri, Montana, Nebraska, Nevada, New Mexico and Oklahoma have temporarily stopped selling Quarter Pounders. 


Understanding how E. coli spreads after McDonald’s Quarter Pounder outbreak

04:31

McDonald’s identified California-based produce giant Taylor Farms as the supplier for the sliced onions the company removed.

Taylor Farms told CBS News Colorado Wednesday night it conducted tests on “raw and finished products” and “found no traces of E. coli.”

Still, Taylor Farms Colorado removed yellow onions from the market produced out of its Colorado facility, it said. 

Most of those stricken in the outbreak live in Colorado and Nebraska, with 26 sickened in the former and nine stricken in the latter, according to the U.S. Centers for Disease Control and Prevention. Of the 26 who became ill in Colorado, one older adult died, the CDC said. Health officials in Utah and Wyoming each reported four illnesses. Other states reporting illnesses include Iowa, Kansas, Missouri, Oregon and Wisconsin.  

At least 10 people have been hospitalized, including a child with hemolytic uremic syndrome (HUS), a serious condition that can cause kidney failure, according to the CDC.  The illnesses began at the end of September, and the most recent incident occurred October 11. 

It typically takes three to four weeks to determine if a sick person is part of an outbreak. Those infected with the toxin-producing E. coli experience severe stomach cramps, diarrhea and vomiting, and most recover without treatment after five to seven days.



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