This week, the author of a
Barron's cover story posits that it's time for the Fed to raise interest rates. The macro debate for and against doing so, I'll leave for economists. The argument in favor of raising rates, however has advocates at Barron's. The Barron's article titled, "C'mon Ben!" is accompanied by a reminder that keeping rates so low "hurts savers."
The policy notion of incenting savers to save more, seems to fall on deaf ears.
The Fed keeps the cheap money flowing, but they also hamper returns from savings accounts, money markets, CDs, etc. to remain at paltry levels. When will we reward citizens who save and invest conservatively, instead of the masses who borrow only to consume?
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