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fed still says near zero interest rates until 2023

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    Mixed bag news here. On the positive side for us consumers if the fed's interest rates are near zero until 2023 that means consumer lending (credit card interest rates, personal loans, etc) should remain relatively low that whole time. But it also means interest bearing savings accts will net you near nil.

    I like passive income from savings accounts but they are a non option for me for the next 3 years it seems. I wonder how steadfast the fed will be at sticking to this projection - think its a good idea from them to do this? Seems like at any moment they can change their minds which confuses me as to why they would even make such announcements.

  • Are you sure you want to delete this post?
    Definitely doesn't feel like the right time to open a savings account. But like you said, they could just flip and change their minds.