Meanwhile, the longer the low-interest-rate policy is extended, the greater the risk that the resulting speculation could bring down the economy. This can be because asset bubbles eventually collapse or because consumer borrowing hits a wall, or both. Either way, the outcome of the tight-rope act depends on whether job growth can fundamentally improve the economy before that happens. That would be the best outcome for the economy -- and for CD, savings and money market rates.
In the meantime, this leaves depositors in the same position as the Fed -- watching the economy's tight-rope act while waiting for job growth.