Quote:
Originally Posted by jimjamuser
Yes, because the Fed is trying to drive INFLATION down. Older retired people are the ones MOST hurt by inflation because they are on fixed incomes and NOT working. So remember, the Fed. is YOUR friend.
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"Older retired people are the ones MOST hurt by inflation because they are on fixed incomes"
Actually poor people are hurt the most by inflation. They usually have no savings/investments to earn the higher interest and generally don't see pay increases that match the level of inflation. On the hand, the "older retired people" usually have social security, which IS indexed for inflation. If you are talking about pensions when you mention "fixed income" well, something tells me that you will be way ahead of the "poor" community if your are collecting social security AND a pension. IMO!