"If the Federal Reserve expects inflation to be under control within the next six months, as indicated by their recent 'wait and see' announcement, then longer-term CDs and bonds might be a good purchase," said Forrest Baumhover, certified financial planner and founder of Teach Me Personal Finance.īonds and CDs have a lot in common - competitive, guaranteed rates and withdrawal penalties if you take money out before a certain point. So does it make sense to invest in an I bond right now? Though this rate is much lower than last year's record high of 9.62% APY, it's still on par with many savings options. The Treasury Department recently announced its latest I bond rate for the next six months - 4.30% APY.
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