Savings rates keep declining - When will it stop?

Savings rates keep declining - When will it stop?
I have money in a savings account which does better than most CDs out there. But Ive noticed in the past 6 months, the savings rate is slowly dropping. When will this turn around? I could move it to another savings account with another bank, but everyones rates are dropping.
Yah, you know stocks are a stupid recommendation with it going up and down so much lately. Reports have stocks diving down to 7000 within the next 12 months and down to 4000 within 3 years. Stocks are the last thing I would consider at this point.

I'll continue to invest in gold and silver as a backup for the depression that is ahead of us.

Besides that, Id really like to put my money in a savings account that earns good interest and is easy to take out if things get bad. It was at 5.5% a year ago, now its at 4.75%.


Answers:

muncie birder:  Won't stop for some time. The last rate reduction lasted 4 years. The philosophy is to screw the saver, keep borrowing and buying.
2008-01-26 11:57:24
Shaun R:  CDs never offered a great rate to began with. I suggest you take that money out and trade with it.

Many professionals can make 2 to 3 did-git returns on their many every year. And so can you.

You just have to know a few rules. This website will help you with that. I strongly recommend it.
2008-01-26 11:59:08
ANGGELICA:  i don't know but hopefully soon
2008-01-26 12:00:54
financialpeas:  As long as the Federal Reserve keeps cutting interest rates, the rates that banks pay will keep dropping. Money in a Money Market account should be your short-term savings - money you will need to spend within the next 3-5 years, for example. For other funds, I suggest investing in a few diversified mutual funds with long track records. Read a lot and understand what you are buying before you do anything, and be very cautious of what others tell you.

A novice should NOT be trading, or buying individual stocks.
2008-01-26 12:08:01
Chosen Answer
raysor:  Rates look as though they are coming down about another point. Look for fixed interest investment.
2008-01-26 12:14:02
engineer50:  Of course the rates are dropping. That's because interest rates in general are dropping.
2008-01-26 12:17:58