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Schenk to IBankrate.comI Savers face prolonged yield drought
MADISON, Wis. (1/11/11)--People looking to bolster their savings during the next few years will have to deal with a paucity of interest rate yields, a Credit Union National Association (CUNA) economist told Bankrate.com Monday. Although no one knows for certain when the Fed will adjust interest rates, one sure thing is that it won’t happen until inflation becomes a concern, Bankrate.com said. As a result, savers may face a prolonged yield drought for the next several years, Mike Schenk, CUNA vice president of economics and statistics, told the publication. "Without those substantial increases in economic activity, without improvements in labor markets, you won’t have inflation pressures,” Schenk added. To read the article, use the link.
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