Comparison of Long Term National CD Rates

Average CD rates for both short term and long term certificates of deposit are very low these days. Unfortunately CD rates will stay at very low levels for at least the next three years. The Federal Reserve just announced it will keep the Federal funds rate in a targeted range of zero percent to one quarter percent until mid-2015. The Fed recently extended the time period from the end of 2014 until mid-2015 to help the economy and lower the unemployment rate. A near zero percent Fed funds rate will keep downward pressure on all interest rates, including deposit rates.