CDs vs. high-yield savings accounts — where can you earn 5.5% after Fed’s rate hike? ‘This is time-sensitive.’

The face-off

Higher interest rates have made it more expensive to carry a balance on your credit card or take out a car loan, but on the flip side, there’s an opportunity to earn more interest on cash savings. You can do this by opening a high-yield savings account or buying a certificate of deposit (CD). (This column will focus on those two options; you can read about other cash investments here.)

A…