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This brings the current federal funds rate down to 4.75%-5%.
In many cases, youre agreeing that the bank is allowed to call the CD back before it matures.
This means handing back the cash and accrued interest.
Most notably, banks like Chase and U.S. Bank are now calling back more high-yielding CDs before they mature.
We get people all the time who are like, Wait a minute, my CD was called.
Sometimes, a higher rate also means higher risk.
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