It’s the whole point of low rates, to entice borrowing and discourage saving, but it means a massive wealth transfer from savers to borrowers.
– Greg McBride, Senior Financial Analyst, Bankrate.com
All our clients are struggling with this. It has never been as bad.
– Cary Carbonaro, Financial Planner, New York City/Long Island
Quoted in “Falling Rates Aid Debtors, But Hamper Savers”, Graham Bowley, The New York Times, September 9, A1