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- The Federal Reserve raised its fed funds rate for the 10th time on Wednesday, to a range of 5%-5.25%.
- Savers looking for a return from CDs should move quickly, Bankrate said.
- "This could be 'last call' for savers," as CD yields on maturities of 1-year and longer have peaked, it said.
People looking for a return from squirreling away money should act quickly as rates on at least one product are likely to drift lower, Bankrate said Wednesday after the Federal Reserve raised its key borrowing rate to its highest in nearly 20 years.
"This could be 'last call' for savers. CD yields on maturities of one year and longer have peaked and now is the time to lock in," Greg McBride, chief financial analyst at Bankrate, said in a note.