Depositing $10,000 into a CD account now, before rates fall further, may be beneficial for savers this November. mpiokpee/Getty Images

The Federal Reserve reduced interest rates again this week, its second time doing so in just six weeks. And, with the cut, borrowers started to breathe a little easier. A Fed rate cut, after all, while not an overnight fix, can go a long way toward reducing the high interest rates many borrowers have been saddled with in recent years.

A Fed rate cut for savers, however, is not generally as beneficial. Savvy savers have been able to exploit the elevated interest rate climate since 2022 by opening high-yield savings and certificate of deposit (CD) accounts . The latter type, for example, saw rates as high as 6% 2024. And CD rates are fix

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