Bloomberg Businessweek

Janet Yellen Can’t Help Retirees

Interest rate hikes won’t really help the poorest Americans’ retirement savings

For millions of aging Americans, the dream of a secure retirement has proved elusive. But if you think interest rate hikes from the Federal Reserve will provide relief, you’re wrong.

Many graying Americans, particularly the poorest, have saved so little and borrowed so much that raising rates will have no real positive impact and may even hurt. The result could be a still-wider gap between the richest and neediest retirees.

On average, the poorest 20

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