bank rates

Ben, You’re Killing Us Out Here

Savers have certainly done their part to pull the nation out of the financial crisis and recession by enduring 19 months of continuously falling, record-low interest rates.

Now CNNMoney says everything from the European financial crisis Savers have certainly done their part to pull the nation out of the financial crisis and recession by enduring 19 months of continuously falling, record -low interest rates.to the nation’s feeble recovery could encourage the Federal Reserve to hold interest rates at current levels through the remainder of 2010, all of 2011, and into 2012.

Give me a second to pull my socks off because I’ll need all my fingers and toes to count how many more months of pitiful returns that means.

We don’t want to wreck the economy. We don’t want to throw more people out of work. But can’t the Fed ease up a little on the nation’s savers?

Is Fed Chairman Ben Bernanke determined to maintain his extreme distortion of the saving and lending markets even though CNNMoney also says the risk of a double-dip recession has actually fallen this year?

As Pierre Lapointe, global macro strategist with Brockhouse Cooper, a brokerage firm in Montreal put it to CNNMoney: “Removing your foot from the accelerator is not the same as stomping on the brakes.”

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  1. Bear Lover said:
    on June 15th at 10:05 am

    Here’s one argument for not taking our foot off the gas

    http://www.nytimes.com/2010/06/15/opinion/15herbert.html?ref=bobherbert