[kenneth]

Assuming that interest rates remain above inflation, which is already no longer true. What's the point of earning 2% a year when the USD is losing 6% a year in value (and that's likely far undercounted).

[na85]

The point is it's possibly the most secure investment available, so that's why it's a good proxy for the risk free rate.

Whether or not you want to invest at that rate is entirely a separate conversation.