<prompt> Human: I was researching how poor our bank interest rates are in the United States and was curious if theyd ever return to what our parents and grandparents received. Its really putting a damper on the younger generations and making it incredibly difficult to save money without having to place money in IRAs and investment accounts that have no guarantee despite historic averages. For instance... The benchmark interest rate in the United States was last recorded at 0.25 percent. Interest Rate in the United States averaged 6.05 Percent from 1971 until 2014, reaching an all time high of 20 Percent in March of 1980 and a record low of 0.25 Percent in December of 2008.Thoughts? Also how can countries like Australia afford to provide high interest rates but the US cant?  <response>: Didnt you ask about Australia the other day and got zero responses here? Google actually has some very valid discussions as to why they can support a higher interest rate...I think youre in the wrong sub for this tbh. I would try rEconomics or reconomy or even rEconomicHistory 