Bidenflation Crushing Savers (REAL 3M CD Rate At -6.74%)

Confounded Interest ^ | 12/21/2021 | Anthony B. Sanders

[Browns Ultra Fan]

The Federal Reserve’s zero-interest rate policies (ZIRP) has The Fed Funds Target Rate at a measly 25 basis points or 0.25%. While this is great for some, it is disastrous for savers. Once we subtract off the inflation rate (CPI YoY), we find that the REAL 90-day Certificate of Deposit (CD) rate is a horrifying -6.74%.

I don’t think that Congress or the Biden Administration really think about how their spending may contribute to inflation and crush savers. Or the American worker who is seeing NEGATIVE real average hourly earnings growth (yes, Biden said that Americans have more money this holiday season … but not if we account for reduced spending power, also known as inflation.

Here is US Treasury Secretary Janet Yellen singing “Goodbye Savers.”

Goodbye Savers Will we ever meet again Feel sorrow, feel shame Come tomorrow, feel lots of pain

[Browns Ultra Fan]

I grimace when I see that attacks on Manchin. These dimwits don't understand the pain inflicted on the middle class thanks to inflation.

[38special]

Imagine the effects on the non-savers

[Joe Brower]

"These dimwits don't understand the pain inflicted on the middle class thanks to inflation."

Oh, they understand it all too well. But the beltway elites know they will likely never feel the pain they inflict on the lesser classes, and the ultimate goal is to crush the middle class out of existence.

Double plus good, comrade!