Savings Income and Retiree Spending

An interesting data point shows the rapid decline of savings income (primarily interest from bank savings) as a percentage of total income in the US.  While it is no surprise given the paltry interest offered these days, the data point is interesting given that it is occurring as many boomers are retiring.  Prior to the 2008-09 financial crisis, income from savings accounted for roughly 2.3% of all income while it now sits below 1.2%.  Since boomers are more inclined (appropriately) to have liquid savings, perhaps the Federal Reserves policy of keeping rates ultra low is actually negatively impacting spending and the economy.