I wouldn’t define that as being screwed, but they certainly are disadvantages. Fixed rates can work in your favor under certain scenarios like how the government is currently reducing bond rates which causes everyone else to lower their APY. Fixed rates mean you aren’t affected when the government decides to pay less.
It depends on how the devaluation occurs. If it’s high inflation, then CDs screw you over in two ways; fixed rates and time locked.
I wouldn’t define that as being screwed, but they certainly are disadvantages. Fixed rates can work in your favor under certain scenarios like how the government is currently reducing bond rates which causes everyone else to lower their APY. Fixed rates mean you aren’t affected when the government decides to pay less.