Baby Boomers Blunt Bernanke Stimulus as They Save for Retirement

Baby Boomers Blunt Bernanke Stimulus as They Save for Retirement

Scott Eells/Bloomberg

“Spending decisions of the older age cohorts are less likely to be easily stimulated by monetary policy,” William C. Dudley, president of the Federal Reserve Bank of New York, said in a speech on Oct. 15, helping to explain why the economic recovery has been weaker than expected.