Why a long-term CD could be better to open this June. On the other hand, if you feel that the slight upticks in the inflation rate so far are temporary — and that rate cuts are inevitable ...

A $5,000 deposit into a 6-month CD at the aforementioned 4.50% rate results in a minimal $111.50 earned upon account maturity. But that same deposit in the 2-year CD at 4.20% ends in a $428.82 return.