Comments on: In Fed policy, the losers are people with savings http://blogs.reuters.com/muniland/2012/09/25/in-fed-policy-the-losers-are-people-with-savings/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: nanc455 http://blogs.reuters.com/muniland/2012/09/25/in-fed-policy-the-losers-are-people-with-savings/comment-page-1/#comment-1723 Tue, 25 Sep 2012 22:47:11 +0000 http://blogs.reuters.com/muniland/?p=11960#comment-1723 Hello,

You misrepresented what I wrote in my original research note, as well as Matt Phillip’s use of it in the piece he posted on Quartz. I never said that 22% of households have transaction accounts, but cited Fed data showing that interest-bearing assets accounted for 22% of households’ financial assets: “The surveys show that the share of financial assets comprised of interest-bearing assets, including transaction accounts, CDs and bonds, declined from 39.1% to 20.5% in 1998. Since 1998, the interest-bearing share of assets has averaged 20.8%; in 2010, that share was 21.9%.”

As you correctly noted in your post, 92% of households held transaction accounts in 2010.

Nancy Vanden Houten
Stone & McCarthy Research Associates

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By: nanc455 http://blogs.reuters.com/muniland/2012/09/25/in-fed-policy-the-losers-are-people-with-savings/comment-page-1/#comment-1721 Tue, 25 Sep 2012 19:02:13 +0000 http://blogs.reuters.com/muniland/?p=11960#comment-1721 Hello,

You misunderstood what Quartz wrote regarding Stone & McCarthy’s research. In my comment from 9/18, I wrote: “The surveys show that the share of financial assets comprised of interest-bearing assets, including transaction accounts, CDs and bonds, declined from 39.1% to 20.5% in 1998. Since 1998, the interest-bearing share of assets has averaged 20.8%; in 2010, that share was 21.9%.” I think my point was made clear by Matt Phillips at Quartz. Nowhere did I — or Quartz– say that the share of households with transaction accounts was 22%. As you correctly noted, that share was 92% in 2010.

Nancy Vanden Houten
Stone & McCarthy Research Associates

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