If the rate of inflation is higher than your interest rate on your savings account you are losing buying power true or false?

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asked Apr 26, 2021 76.9k views

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Mark Sowul · Answer 1 · 2021-05-01T02:16:03+0000

I believe it’s false

when interest rates are low, the economy grows and inflation increases. Conversely, when interest rates are high, the economy slows and inflation decreases.

If the rate of inflation is higher than your interest rate on your savings account you are losing buying power true or false?

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