Trump wants even lower interest rates: What that would mean for your retirement savings

Alessandra Malito
Trump wants even lower interest rates: What that would mean for your retirement savings

President Trump’s suggestion to cut interest rates to zero or below could have some unpleasant effects for people who are close to, or in, retirement. Negative interest rates have a harrowing impact on cash. Banks already offer a relatively low interest rate to consumers in exchange for stashing their money in a savings account, and the interest they incur on their savings would only go lower if rates were cut.