Higher CD rates are good for savers. I recommended my parents consider CDs instead of the volatility of stocks. People who need a consistent and steady return can benefit from CDs. Much of the investing wealth of the US is controlled by the oldest demographic. At some point, that demographic will forgo a higher return for stability and safety. A 12 percent return on average during a 10 year period from stocks is great, but that return could look like negative numbers for the first 3 years, no return for 3 more years and then excessive returns the last four years. That's fine if you have 10 years, but for people who need a steady drip income and may not live another decade, CDs at 6% are a better choice. So, if CD rates rise high enough, there will be a shift of investments for senior citizens from stocks (higher risk) to CDs (lower risk). At least, that's my prediction.