Savings can be erased by a high inflation rate. So it pays to control inflation rate that can be manipulated by interest rate. The power to manipulate interest rate rests with the Federal Reserve Bank not with the President of the United States or Congress. But the blame for high inflation rate is usually placed on the president. Poor president! He cannot even order the minting of US coins without the approval of the Fed. The president can haggle with Congress economic stimulus package, decrease in budget deficit package and health care reform. Assuming inflation rate is low and stable, US citizens can save money in their savings accounts.