bank rates

Bernanke’s Plan To Raise Rates – Someday

Ben Bernanke has unveiled his plan for unwinding the Federal Reserve’s economy-boosting policy that’s driven interest rates to record lows.

When the Fed Chairman might set that plan into motion remains a mystery.

Economists who thought June might be a good guess are now Federal Reserve Chairman Ben Bernankesaying November or even next year since he seems determined to hold interest rates ridiculously low for as long as it possible can.

The plan also has a surprising twist that makes us worried about how quickly the horrible rates on CDs, savings and money market accounts will improve after the Fed finally decides to act.

We can only hope that savers wont’ be the last to benefit from Bernanke’s plan to return the economy to a more normal, market-driven state of affairs.

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