MetLife CEO Says Bernanke’s Easy Money a Tax on Savers

The Federal Reserve should pay more attention to the harm inflicted on savers by record-low interest rates, said Steven Kandarian, the chairman and chief executive officer of MetLife Inc., the largest U.S. life insurer.

“A policy of artificially low interest rates is a form of taxation on savers,” Kandarian, 61, said in his annual letter to shareholders. “This social cost should be considered more explicitly in debates over monetary stimulus.”