The whole point of a CD is to lock your money away in exchange for locking in at a higher return (interest) rate.
Putting your money into a 1 month CD, means there is literally no risk, so no reward, I mean we're talking about getting an interest rate of 2.5% in your savings and maybe 2.75% on a 1 month. If you're putting in $1k, that's like $.10 difference.
The best rates are generally 12-month (my bank (ING) gives 4.25 for 12 months as opposed to what was 3% in my savings until this morning).
There are two competing risks for the investor:
1) Interest rates go up (and you're locked in), which is unlikely in the next 12 months.
2) You need the money, and you lose 3 (or more) months interest if you yank the money.
If I had the money to do it, I'd shift most of my savings into a 12-month this morning. The rates will drop probably this afternoon to reflect the interest rate cut.
slidecage is whining that the interest rate dropped, but he didn't risk anything that it might, so he's not rewarded for locking away his investment. It's as simple as that.