CounterPunch, 19 February 2016
The US economy died when middle class jobs were offshored and when the financial system was deregulated. . . . The Federal Reserve’s zero interest rate policy was designed to support the balance sheets of the mega-banks and denied Americans interest income on their savings. This policy decreased the incomes of retirees and forced the elderly to reduce their consumption and/or draw down their savings more rapidly, leaving no safety net for heirs. Read more.