Higher yields on savings won't last forever, but you can at least lock them in for the next few years.
The Federal Reserve indicated Wednesday it would keep interest rates higher for longer, anticipating one more rate hike before the year ends.
The developments bode well for income investors , who are seeing even higher yields on Treasurys, money market funds and certificates of deposit .
It also raises an interesting conflict for investors : The richest rates are at the shorter end of the yield curve, but investors willing to commit some of their money can lock in higher rates for a couple of years.
If you're ready to commit to five years, a handful of banks will pay upward of 4% in yield.
Persons:
bode, Jeremy Keil, It's, — CNBC's Michael Bloom
Organizations:
Federal Reserve, Keil Financial Partners, Treasury, UBS, Frost Bank, Bread Financial