CBS News advises investors to consider putting $5,000 into a long-term Certificate of Deposit (CD) due to rising interest rates. The article explains that CDs offer a fixed interest rate for the term of the investment, providing stability in an uncertain market. It also mentions that the Federal Reserve has signaled that it may raise short-term interest rates multiple times in 2023, making it an opportune time to lock in a higher rate. The article suggests that a $5,000 investment in a five-year CD could yield around $1,000 in additional interest over the term.
