The Fed Versus the People

The Fed thinks that people are saving too much but very people actually have enough savings, while many have none at all.

I've previously argued that most Americans aren't saving enough to live comfortably in retirement, and that the Federal Reserve might be making this situation worse. A new report from the consumer financial services company Bankrate shows that many Americans have been holding back their spending because of an even bigger problem: insufficient savings to cover short-term emergencies.

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