Is the Federal Reserve Waging a War on Savers?
Federal Reserve’s Open Market Committee, to no one’s surprise, announced earlier this week that it would be leaving the federal funds target rate at 0.25 percent, exactly where the rate has been since December 2008. How could anyone look at the following two charts and not come to the same conclusion: the Federal Reserve hates savers? Federal Reserve: What is their goal? Perhaps hates is too strong a word; it’s more like the Federal Reserve is displeased with people that save money in interest bearing assets, akin to the way parents are displeased with a lot of what teenagers do. Recently,...
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