Current interest rate for savings account at my bank: 1% of 1%

Blackrook

Diamond Member
Jun 20, 2014
21,063
10,587
1,255
I didn't bother to open a savings account today when they told me the interest rate was 0.01%. That's a crime, and we can blame the FED for keeping interest rates so low that savers are screwed.

But the FED was dancing to Obama's tune, and Obama needed interest rates low because the federal government has a debt of $19.5 trillion, and if interest rates were at a normal level, imagine how much that would cost the government just to service its loans.

This can't be good for the economy that it's barely worth it to save money or loan it out to businesses.

This is something Trump needs to fix, pronto. Pay down the debt and get the Fed to raise interest rates.

That means CUTTING THE BUDGET and saying "no" to every Tom, Dick and Harry who has his hand out asking the government to give him money, including foreign countries, PBS, NPR, NEA and Planned Parenthood.
 
The Fed didn't keep interest rates low because of Obama.

I'm worried by what the Fed has done, but it wasn't because of politics.
Actually, was......but not of the sort the OP alleges.

Because Congress was determined to sabotage the Obama presidency, the Fed was left to do with monetary policy what Congress refused to do through fiscal policy, in a manner unprecedented in the modern era.....

It's a good thing, or the Wages of Supply Side Idiocy, Part Deux, would continue to linger.
 
I didn't bother to open a savings account today when they told me the interest rate was 0.01%. That's a crime, and we can blame the FED for keeping interest rates so low that savers are screwed.
There are online savings accounts with much better rates, do your homework instead of whining.
 

Forum List

Back
Top