“How Fed Policy Has Cost America $170 Billion” – Money Rates
“Could the U.S. economy use an extra $170 billion right about now? Though the economy has shown fitful signs of growth, that growth is still so fragile that it remains to be seen whether it can withstand setbacks such as the rising price of gasoline. So, an extra $170 billion in the pockets of American consumers and businesses would come in handy right now. If it didn’t require new taxes or spending increases, the benefits of that extra money might even be something Democrats and Republicans could agree on. Unfortunately, the Federal Reserve’s extreme low interest rate policies have cost American bank depositors that $170 billion in the form of purchasing power lost over the last year alone.” Read more.
“How Fed Policy Has Cost America $170 Billion”
Richard Barrington
Money Rates, May 17, 2011.
Image by worradmu / FreeDigitalPhotos.net.
