New series "I" U.S. Savings Bond rate IS 3.11%

[RWG1950]

The Treasury Dept. has announced the new annualized 6 month rate of 3.11% on series "I" savings bonds.
The rate is comprised of a 1.20% fixed rate (fixed for the life of the bond) and an annualized inflation adjusted rate of
1.91% that is subject to change (up or down) every 6 months - on May 1st & November 1st.
For more information on I-bands go to TREASURYDIRECT.GOV

[FEDUKE404]

I think, for all intents and purposes, you are purchasing a 30-year bond with some bells & whistles?

https://www.treasurydirect.gov/savings-bonds/i-bonds/