CD rates have been dismal for about two years now but there is hope for the future. The FOMC wraps up its two day meeting today and releases their statement on the economy. While most analysts believe the targeted Fed Funds rate will stay in the zero to one quarter percent range, the Fed's language on keeping interest rates low is expected to change.
The reason for the expected change is that the economy is expanding and non-farm payroll employment is increasing, both leading to higher inflation which will force the Fed's hand to raise interest rates. Any change of the Fed's "warrant exceptionally low levels of the federal funds rate for an extended period" will signal tighter monetary policy and higher interest rates in the near future.