Depositors in savings accounts have been asked to sacrifice their interest rates for the sake of economic stimulus. The question is, after four year of this, when will this sacrifice be rewarded?
The answer depends on whether the economy can pull off a tricky tight-rope act. It has to lean dangerously close to speculation, and hope that economic fundamentals come through to balance the economy before it goes too far and tips over. This relates to savings accounts and other deposits, because driving bank rates down has been such a prominent part of the Federal Reserve's strategy for boosting the economy. Those low rates may also be pushing the economy further toward speculation.
Defending the Fed
Janet Yellen, Vice Chair of the Board of Governors of the Federal Reserve and someone who has been touted as a possible successor to Ben Bernanke, has defended the low-interest-rate strategy on the grounds that it has increased "interest-sensitive spending" and has boosted the values of stocks and housing.
As much as those accomplishments could help stimulate economic activity, they also represent things that are pushing the economy further over to the speculative side of the tight-rope.