CD rates change due to Fed rate cut

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NidI04

New

NidI04
Jul 24, 2019 6 Comments

I've quite a bit of cash in savings accounts that I'm planning to move to CD.
Would there be a sudden fall in CD rates after July 31 (assuming the feds announce a rate cut), or is it something that would happen more gradually?

Just wondering how much do I need to rush!

And just in case it helps anyone else in a similar situation, the two best CD current rates I found are
2 years
Nationwide by Axos Bank: 2.90% APY; $500 minimum deposit
Quontic Bank: 2.90% APY; $1,000 minimum deposit

1 year
Marcus 2.5%, NFCU (varies from 2.5 - 3.5)

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