Interest rates are far less than in-store inflation.
The Fed puts on an act of acting tough, but savers have been cheated ever since the Moslem educated guy became president.
Exactly. Obama and his crew with 0 interest rates virtually eliminated the saver class of people. People like my parents who put money into savings accounts and earned about 3% a year when inflation was under say 1%. They did not get rich but the power of compounding allowed them to take a nice vacation when they were in their late 60s.
With quantative easing of the money supply interest rates dropped to close of 0%. Banks started to pay 0.1% or 0.001 interest rates on savings accounts. However, when inflation goes to 6% rates on saving accounts (and government bonds) need to go up.