Why a $10,000 CD account is worth opening this May

MoneyWatch: Managing Your Money Why a $10,000 CD account is worth opening this May We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson May 14, 2026 / 1:22 PM EDT / CBS News Add CBS News on Google This May could be a smart time to shift your $10,000 into a CD account. spawns/Getty Images Towards the end of 2024, when the Federal Reserve reduced interest rates three times in the final four months of the year, many savers understandably probably assumed that the existing era of big returns on select savings accounts was rapidly approaching. And, in the final months of 2025, when the Fed cut rates another three times, this viewpoint became further solidified. But in the interest rate environment of 2026, savers are now finding themselves rethinking their understanding.The central bank hasn't issued a single rate cut so far this year and, according to current projections, is unlikely to do so for months more. With market uncertainty high now, thanks to overseas conflicts and a consistently surging inflation rate, savers may once again be searching for safe and profitable homes for their money. And, if they have $10,000 or so sitting in a traditional savings account, may find themselves contemplating a shift into a certificate of deposit (CD) account instead right now.But is that the right move to make currently? It actually may be. Below, we'll detail three timely reasons why a $10,000 CD account could be worth opening this May.Start by seeing how much interest you could be earning with a CD account...