The minutes from the Fed's December meeting were released on Tuesday, and they reveal plans for the Fed to publish forecasts showing when it may change the federal funds rate. As mentioned in this Reuters article, these forecasts may suggest "rates will be on hold for longer than previously expected." The next Fed meeting on January 24-25 will include the release of these new projections.
The Fed's current policy statements suggest that mid-2013 will be the earliest we'll see a rate hike. When the Fed first added the mid-2013 language to its policy statement in August, it proved effective in further driving down rates including deposit rates. So if we see new forecasts pushing out the date for the first increase of the federal funds rate, that will likely be bad news for savers.
I'll let the economists debate whether this new policy will be helpful for the economy. This Bloomberg article describes some of the potential problems. The reader me1004 made a good point why this new policy will likely just slow the recovery.
I think most readers of this blog would concur that the ultra-low interest rate policy has punished savers much more than helped the economy. There's no sign that this will change anytime soon. I'm afraid until we see significant improvements in the economy and employment, interest rates will stay low.