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꽃 빗살
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sFRiEaTdKFxUwuS |
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| It's serious http://xnxx.promo/nhrntai-fgo/ hoi-020 shichan For retirees with bonds and savings accounts, low rates make them feel poorer, since they earn less interest on their accounts. Or if retirees are invested in bond funds, the low rates raised the price of bonds. This increases their wealth. But if retirees anticipate an eventual return to high rates (which is likely, because bond yields, unlike stocks, historically revert to a mean), their bond portfolios will fall. So the low rates may have a perverse wealth effect on older people — decreasing their consumption. As the population ages we might expect monetary policy to become increasingly less powerful, or even counterproductive. |
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Donnie |
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2020-03-07 14:04:21 |
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