As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Low interest rates have cost savers roughly half a trillion dollars
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Historically low rates of interest have helped the U.S. economy recover from the Great Recession. But there have been casualties. Savers — and the wider economy — have lost interest income from deposits and investments that could total $500 billion. This probably hurt those who are retired, or on a fixed income, the most.
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