roads and bridges is a federal government rather than a federal reserve thing
Exactly, which is what I was implying by saying maybe we (Congress) should do that rather than relying on the Fed to prop things up.
re savers: if you are talking about quantitative easing, they have already stopped doing it. but how is pumping the stock and bond markets wiping out savers?
Yep, stopped it finally, but still keeping Fed Funds rate at zero and doing all they can to keep the mentality intact for short, intermediate and long rates far below historic norms.
They've already killed the savers. Today is SIX year anniv of "zero rates" policy.
Do you know any old people that have had their interest income completely removed from their lives? It's ugly and painful. Not completely of the Fed's doing, no doubt. But they've had a huge hand in it.
Some of us are financially "astute" enough to weather that and make money in the markets w/o relying on interest income. I feel for the millions of oldsters that lost their CD income for a lost decade. They're definitely among the losers.
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