Monday, October 1, 2012 - 1:10 PM

Bernanke Claims Again That Stimulus Helps More Savers Than It Hurts

Chairman Bernanke's speech today provided more of the same for savers. Here's an excerpt from a CNNMoney.com article which described his speech:

"My colleagues and I know that people who rely on investments that pay a fixed interest rate, such as certificates of deposit, are receiving very low returns, a situation that has involved significant hardship for some," he said.

But he continues to maintain that the low rates "would help many more savers than would be hurt."

KenBDG5,133 posts since
Nov 29, 2009
Rep Points: 116,941

Edit | History

Here's the link to Chairman Bernanke's full speech.

Quick
Summary

1. Monday, October 1, 2012 - 1:44 PM

Bernanke must be having early senility. Low rates help borrowers not savers and people are too concerned about the economy to borrow unless they really have to. Bernanke is a joke and needs to be put out to pasture!

paoli2438 posts since
Aug 10, 2011
Rep Points: 1,750

2. Wednesday, October 3, 2012 - 6:06 AM

Only minorly beneficial at best, as criticism of the Fed and Bernanke tend to fall on deaf ears, at least the damage that ultra low interest rates are doing to those dependent on savings vehicles like CD's, savings accounts, etc. is being revealed and admited to for the rest of the population to become aware. Having it swept under the rug would be even worse as this would allow this travesty to continue unbeknownst to the remaining segments of the population.

MrFrugality8 posts since
Oct 6, 2011
Rep Points: 21