Rate cuts aren’t aiding consumers

The Times has exposed how banks are hammering credit card borrowers, but a glance at the certificate-of-deposit rate graph in the paper shows that savers are treated with equal disdain. (“What rate cuts? Use of plastic gets pricier,” Consumer Confidential, Feb. 10.)

It’s obvious who the Federal Reserve is protecting -- and it’s not consumers of any variety.

David Mathews

Downey