Quote:
Originally Posted by tophcfa
The media is downright giddy that the most recent inflation report indicates the Fed might soon be cutting interest rates. Exactly how is that good news for responsible senior citizens who have saved their hard earned money, avoided debt, and want to earn a reasonable real rate of return above inflation on their savings?
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It's bad news for rich old people only to the extent that they'll have fewer pieces of gold to fill their coffins with when they're buried.
It's good news for anyone who has debt in any legal institution that charges interest.
It has zero impact on anyone who has neither savings nor debt.