This MarketWatch article
did a good job at describing the plight of savers. His suggestions about "eluding the Fed's attack" are not quite as good.
On the surface, the Fed's decision to keep rates at 300-year lows was spun as an effort to help the U.S. stay in its slow grind higher. But from a personal-finance standpoint, it is one of the most outrageous ripoffs of all time -- a massive theft from the savers and retirees of this country for the benefit of banks and big business.
Once we get over the outrage of it all, we have to buckle down and recognize who the likely winners and losers are in the financial world.