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If their is high inflation (higher than the CD), then CDs are bad. Your money is locked in and losing real value over time due to the CD rates not being high enough.
Thats why I said it depends on what you are trying to defend against. What's hard is the economy is teetering between recession->low interest rates and high inflation. It seems like the Fed has gotten inflation under relative control, but bond sell offs would probably trigger rising bond rates (as the US has to make bonds more appealing), which I fear could lead to inflationary pressure in the US. However, given Trump it's hard to know what he'll do next so maybe diversification is the only thing to do.