Inflation took a major bite out of the value of savings accounts in the United States since the beginning of the recession in 2008, causing a loss of about $594.23 billion in value through 2013.
A new study by Money Anxiety took a look at the difference between average interest paid on savings accounts and the average rate of inflation, and then applied that to annual deposit balances. Inflation far exceeded the average interest rate paid on savings accounts every year during the past six except…
Inflation took a major bite out of the value of savings accounts in the United States since the beginning of the recession in 2008, causing a loss of about $594.23 billion in value through 2013.
A new study by Money Anxiety took a look at the difference between average interest paid on savings accounts and the average rate of inflation, and then applied that to annual deposit balances. Inflation far exceeded the average interest rate paid on savings accounts every year during the past six except…