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IPFS News Link • Economy - Economics USA

Americans Chasing High Interest Rates Risk Falling Into a 'Cash Trap'

• Wall Street Journal

Bob McGovern is in no rush to move his cash.

The 66-year-old retired banker and his wife have about 60% of their nonretirement assets in Treasury bills and money-market funds that are paying yields of around 5%. With plans to buy a second home in a warmer area, they expect to keep it there until the Federal Reserve cuts short-term interest rates to 4% or below.


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