I should have read all the posts before asking my question about interest rates. Darn!!
Our parents were raking in 12% on their savings years back, and I’ve been waiting for those days to return.......
I remember CD’s were paying 20%. I know what you mean I would at least like to make something on my savings after being prudent all these years. I don’t really know if interest rates will rise or not I just see differences from what we experienced in the late 1970’s early 1980’s. I know it’s hard to believe but the employment situation was better then, incomes were rising and we didn’t have nearly as much debt. The Fed. was not monetizing our debt then either. I think they will do everything in their power to keep rates from rising.
[Our parents were raking in 12% on their savings years back, and I’ve been waiting for those days to return.......
]
I have to explain this to my mother over and over.
If you are “raking in” 12% but the inflation rate is 14%, you are screwed! You just didn’t know it back then, maybe you understand now.