How Many of the 7 Major CD Terms Have Shown Monthly Rate Gains in 2022 and 2023?

The Federal Reserve began its rate hikes in March 2022. For 11 straight months—June 2022 to April 2023—all seven major CD terms showed monthly rate gains. In June 2023, the Fed held rates steady.

Based on FDIC national rate averages reported in the month shown. Each monthly report represents the average of rates from all FDIC banks on the last business day of the previous month.
Chart: Investopedia / Sabrina Karl Source: FDIC National Rates and Rate Caps
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