Straight Talk — Interest rate realities

Back in 1990 when the Fed Funds rate was 8.25 percent, it would have seemed strange to have a discussion about low interest rates. But since Dec. 16, 2008, the Fed Funds rate has been stuck at 0.0 to 0.25 percent and now such a discussion is appropriate.

A prolonged period of ultra-low interest rates creates a lot of problems. Low rates hurt savers. Millions of people in the United States rely on interest income; those people are hurting. Mostly senior citizens, these folks respond the only way they can – by reducing . . .

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