I'm afraid raising the rate will also trigger an enormous rise in inflation. I'm not convinced that higher rates will make much of a difference to the savers in that case, but it will likely the debtors to spiral down.

How much longer do you have to wait until your CD matures, Lexie? I'm with you on the frustration of seeing very little return on investments that were a sure way to pad retirement in the past.

Moneyes wrote: Well, Trump is currently proposing some of the biggest tax cuts in history. If what he wants to do gets approved, those tax cuts could serve as a buffer scales should the interest rates rise.

I agree Moneyeyes. Predictions are the interest rates will rise beginning this summer. Gold and silver are dropping and the stock market is holding it's own. I surely hope to see an increase on my bank statements soon.

I hope we do see some interest rates increase this year!

Well, Trump is currently proposing some of the biggest tax cuts in history. If what he wants to do gets approved, those tax cuts could serve as a buffer scales should the interest rates rise.

I'm rather nervous about interest rate rises. With so much credit card debit and mortgage debt in the market at the moment, I'm worried a large rise would cause another crash, and that wouldn't be good for anyone. Right now I'm not keeping much in bank savings if I can avoid it, as it just doesn't earn much.

Rates are going up, just slowly. FED just raised rates a few weeks ago. Many are predicting 2-4 raise rates this year. Over the next 3 years we should see steady increases.

I totally agree Moneyes. I am keeping a certain amount in savings but have been exploring other avenues to make money. A couple of pieces of property here, a few shares of stock there. We'll see which one pays the greater yield.

i stopped waiting for this to happen a long time ago. II think people still do it just out of habit, and they don't know where else to turn to make their money grow more.

Share your sentiments exactly. Remember a time when the Federal Government set a minimum savings account rate at 5.25%. Sure isn't there today. Likely the banks will be dragged back to a little more in the savings rate but they are not going to rush themselves as the Federal Reserve raise the interest rates.

Every month when I balance my check book, I look at the interest rates on savings accounts and CDs. It never rises. I would love to contribute more to savings but when I'm getting pennies per month, I think I just need to bury it in the back yard. Are interest rates ever going back up?