Weatherhead's Gregory Harmon explains high CD rates

Despite rate cuts last year, many CDs are still paying 4% and up. Here’s why

MarketWatch: Gregory Harmon, assistant professor of banking and finance at Weatherhead School of Management, said some CD rates remain high because investors no longer expect the Fed to keep cutting rates soon. With less urgency to lock in yields, demand for CDs and Treasury bills drops, forcing banks to offer higher rates to attract deposits. He added banks set CD rates based on current Fed policy and expectations.