Research on negative savings rates
This research by the New York Fed suggests that the macroeconomic risks and those to individual households' well-being, associated with negative personal savings rates are overstated.
The author, Charles Steindel, who is Senior Vice President Macroeconomic and Monetary Studies at the New York Fed, points out that the US personal saving rate's negative turn in 2005 has raised concerns that Americans may have to curtail their spending and accept a lower standard of living as they pay off rising
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