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Yes, but that's a direct consequence of Fed policy from the last two recessions. What we really need is to get the Fed out of monetary policy entirely.
by peoplewindow 9y ago
Yes, but that's a direct consequence of Fed policy from the last two recessions. What we really need is to get the Fed out of monetary policy entirely.
- mywittyname 9y agoI'm not sure I agree. The personal savings rate in the US is directly correlated with age. With Boomers having the highest rate of savings and Millennials having the lowest. Additionally, it fell from over 7% in 2013 (where it spiked briefly above 10%) to just 3% today. But during that time, there's been no real change in Federal Reserve policies. https://tradingeconomics.com/united-states/personal-savings https://tradingeconomics.com/united-states/personal-savings If I had to bet, I'd say stagnant wages are the cause.