Well the new I-Bond rates were announced on May 1st and they come with both good and bad news. The earnings rate is the combination of the fixed rate and the applicable variable rate. The good news is that the variable rate is 4.84%. So if you already own I-bonds with fixed rates over 1% like I do, you’re probably fairly pleased. The bad news is that the new fixed rate is 0%. Seriously ZERO. As the fixed rate lasts for the life of the bond (while the variable rate changes every six months), this isn’t the most attractive gamble for a long-term savings strategy. It might be worth purchasing new I-bonds for a year (minimum required holding term), but after a 3-month interest penalty you might not fair much better than with a online savings account or CD. I really think it’s too bad that the US government seems to be discouraging people from saving.