You may have to sell your bikes to buy the feed for the chickens in your backyard then.
It may not matter where you have your money. This could actually be very very bad.
Jerome Powell in his infinite wisdom has kept jacking up rates, after a long period of mortgages in the 3's. So people took out bigger and bigger loans against their houses on 30 year fixed. Now the banks have huge portfolios of mortgages in the low 3's, but rates are now in the 6s.
If you have money at a bank, it makes sense to pull the money and put it into treasuries. But if enough people do that, the bank has a liquidity crisis, the money is all tied up lent out to people with 30 year fixed mortgages at 3%. To fix that you sell some of your mortgage portfolio, but nobody wants those mortgages, even if the debt is rock solid AAA with FICOs in the 700's, because they pay 3% and you can do much better than 3% even with treasuries. So the bank has to take on losses in order to dump the mortgages to fill the liquidity crisis - and when people hear that - bank run, kaboom. I know a couple startups that pulled their cash from SVB yesterday and are thanking their stars.
There was no reason to raise the rates. Powell is a moron. "But inflation!" - except eggs aren't more expensive because people have too much money and are buying more eggs - it's because there was an avian flu. And the producers will struggle to rebuild flocks of dead birds because Powell jacked up the rates. Same goes for all sorts of other "supply chain" driven inflation. Wages are another component of inflation due to labor shortage, but raising rates doesn't fix that either.
He's going to go down in history as an epic failure as fed chief.
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