If actual inflation > IR you can get for safe investments, it means inflation is working as designed. Mainstream economists make the argument that anyone who saves money is selfishly hoarding resources that could be spent or invested. The Fed is supposed to print money to purposely cause inflation, precisely to "tax" this unsocial behavior and incentivize consumption, riskier investments, and debt.

I don't personally agree with this argument. But everyone should be aware that the argument exists, many economists endorse it, and it is used to guide policy in many countries.