“If you are one of those who believe that rates will rise when Ben Bernanke leaves office in January, think again. The new Federal Reserve chief, Janet Yellen, has no intention of boosting rates. She will certainly not be a friend to savers.  During Yellen’s confirmation hearings on Capitol Hill, she acknowledged that seniors are hurt by low interest rates that are a matter of policy. However, the incoming Fed chief believes the greater good — the health of the U.S. economy — takes precedence over savers.  This means that if you’re still relying on CDs and interest-bearing accounts to generate income, you’ll be slaughtered.”

http://thesovereigninvestor.com/2013/12/09/dont-let-fed-pick-pocket/

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