How much interest can a 2-year CD earn if opened this June?

A 2-year CD account offers savers extended protection for their money in addition to a competitive interest rate. Getty Images/iStockphoto Two years can be a long time in any economic climate, but especially so in the unique one millions of Americans find themselves in this June. In June 2024, for example, the Federal Reserve hadn't cut interest rates at all that year. But by the end of the year, they had issued three cuts. And then cut rates another three times in 2025. Now, however? Interest rate hikes are back in play. Inflation , meanwhile, after gradually declining in 2024 and 2025, is now back to its highest level since May 2023. Interest rates on select savings accounts, accordingly, are still high and holding steady. And geopolitical tensions and overseas conflicts have made long-term economic projections difficult to complete. In this climate, savers may be contemplating the ways they can protect and grow their money, not just for a few weeks or a few months, but for a few years. A certificate of deposit (CD) account could be a way to do just that. With a 2-year CD, for example, savers can protect their principal for the next 24 months as the account is fixed with a rate that will remain constant through the maturity date. As a result, they won't need to be concerned about any economic changes that cause rates to rise or fall during that period. …