Interest rates are going up. The Federal Reserve hiked rates once already this year in March. And at its meeting this Tuesday and Wednesday, the Fed is likely to raise the federal funds rate again. Many experts predict there will be a third rate hike before the end of the year.
Sure, the increases mean it will cost more to borrow. But you'll benefit from getting better rates on high-yield certificates of deposit.
Healthier returns on CDs are only one gain from the Fed's rate-raising campaign. Here's how you can take advantage of other positive outcomes from Fed rate increases.
Get expert advice and tools to help you make better financial decisions. Sign up for the Bankrate newsletter today.