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RolfAndreassen comments on Open thread, September 9-15, 2013 - Less Wrong Discussion
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Yes. That's why CDs are a good deal for the bank. The question is, why would I take them up on this, when I can get a better rate without giving them that advantage? They ought to offer me a better rate than the withdraw-on-demand account has, in order to get the advantage of having the money for a fixed term.
I'm aware that e.g. grocery stores do odd things with pricing to prompt certain purchases that are likely to prompt other purchases (that are more lucrative for the store). Maybe buying a CD is likely to prompt signing up for a bank credit card or something?
I think few people ask that question. They hear that a CD is a good investment, and they go for it. The bank doesn't seem to have an incentive to advertise it.