The Treasury sells savings bonds that are at 7.12% right now. It's not the same thing as a savings account and you can't put a million dollars in, but you can still get a good interest rate on smaller amounts.
As someone who's never bought bonds before, how do I know the 7.12% won't change after the 6 months of the locked rate to the 0.00% and whatever pittance they decide to toss my way in an attempt to account for inflation?
Sincere question, I don't know anything about anything.
https://treasurydirect.gov/indiv/research/indepth/ibonds/res...
That's the coupon rate paid by a bond bought at that time (in the late 90s the bonds paid a real return of 3%, which when added to the current 7.12% inflation rate gives a nominal return of 10.12% for the next 6-months).
The rate of those bonds was 3.5% just a month ago, and historically averages around 2%.
source? yields top out at 2.05% right now. https://www.treasury.gov/resource-center/data-chart-center/i...
I do wish savings accounts still had high interest rates and there wasn't so much incentive to invest in riskier assets like stocks.