LETTER: Fed will bump interest rates
The Federal Reserve is planning to raise interest rates three times next year. But I don’t see anything about a rate increase in what these banking institutions pay the people who try to squeeze a few dollars out of their savings account to help supplement their monthly Social Security benefits.
The rate increases will generate millions, but nothing for the ones who would be appreciative of getting at least something better than the less than 1 percent they have been receiving.