The diminished incentive to save By Martin Hutchinson United States Federal Reserve chairman Ben Bernanke reaffirmed last week that short-term interest rates would be kept at their current ridiculously low rates for "an extended period". Apart from the danger of inflation this produces there is another problem: Fed monetary policies in the past decade have done great and possibly permanent damage to the US propensity to save. The devastation that this will wreck on the economy is slow-moving,...
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