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Is The Fed Really Punishing Savers?

Tuesday, November 16, 2010 - 8:07 PM
This commentary at makes the case that some people have focused too much on how the Fed's monetary policy has punished savers and not enough on how it should help reduce unemployment. Of course this assumes the Fed's monetary policy of ultra low interest rates has a positive effect on employment.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Tuesday, November 16, 2010 - 8:36 PM
The Fed has had ultra-low interest rates for years now, and it has had NO effect on employment. And the Fed can't very well expect that the savers in this recession are going to be able to help the economy when it stole their income and turned it over to the  banks, who had record profiits. Only the insane continue a failed course of action, expecting that the result will be any different.  We need real change at the top of the Fed decision machine. Otherwise, we can only expect more of the same, unfortunately.
CandyCaneCandyCane13 posts since
Sep 29, 2010
Rep Points: 76