In my personal calculations, I've been comparing the return from I bonds to CDs. Right now, the I bond provides higher interest than CDs have provided since the 80s.

However, since the I bond term readjusts in 6 mo intervals, it's possible for CD rates to catch up in the next two years as interest rates rise.

So if there is anything 'golden' about the situation, it's the opportunity to (perhaps briefly) receive 80s-era guaranteed interest rates.