Interest Rates, Dollars, and Gold

The Federal Open Market Committee statement issued on Jan. 25 essentially guarantees that investors holding interest-bearing accounts will receive close to zero returns on those funds for the next several years. In promising to keep the target range for the Fed funds rate at zero to 0.25% through late 2014, the Federal Reserve has ensured that interest-bearing accounts are now dead money -- and will be for years to come. Figuring in the real rate of inflation, the next five to six years will see funds left in interest-bearing accounts lose 30% or more of their buying power.

Source: http://www.blanchardonline.com/beru/beru.php?article=4107

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