How much are your savings going to be worth after inflation?
bump
More than they are now. I'll be able to spend the interest on savings associated with inflation. Now, I have to hold as much money as I can for a rainy day. As far as stuff I have to buy, I'm pretty well stocked up and things are in repair and the big ticket items bought and paid for.
Here's the problem. Retired baby boomers and older getting interest on their savings is a very fine way to stimulate the economy. Just about every penny of that interest gets spent, mostly in local economies. Thus, it has a good local multiplier effect.
The recession deepened and the job situation got worse when interest rates on savings nosedived. Coincidence?....I don't much believe in coincidence, especially with economic issues.