This seems to happen every time there’s the threat of an increase in interest on FDIC savings. Meanwhile, the middle class is close to being destroyed by the economy that’s evolved over those years while interest rates on savings are insanely low.
Savers be damned!!! Say the Fed. One of the top reasons the Fed keeps interest rates low is so the Federal gov’t pays virtually nothing to borrow. So idiot Obama has lots more leeway to borrow and spend on useless programs.
EXAMPLE: Anything the EPA and Dept of Education does is worthless or destructive
These hints of interest rate increases seem to be an effort by the Masters of the Economy to let the air out of the market a little at a time to “cushion” what is seen as a necessary correction. They are urinating into the mouth of the Tempest.