Interest rates remain high while the Federal Reserve deliberates on when the first rate cut should occur. Bankrate senior economic analyst Mark Hamrick joins Wealth! to give insight into interest and CD rates and why a favorable environment for savers is unfolding.

"We're living in times of a great amount of uncertainty. So, first of all, rates are still at high levels. And that's a tremendous opportunity for savers depending on their investment horizon, the amount of time they can allow money to be parked, and whether it's a high-yield savings account, a 1 or 5 year CD. Americans are under-saved," Hamrick tells Yahoo Finance.

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This post was written by Nicholas Jacobino