Have you heard about the “war on savers”? Well, brace yourself, savers: This war may well get worse before it gets better. In a surprise move on March 3, the Fed slashed the federal-funds rate by 0.50%, bringing its target range to 1% to 1.25%. The goal was to stoke economic activity and calm the markets in the face of coronavirus-related worries, but the market wasn’t buying it. The major equity indexes all dropped about 3% the day of the rate cut and have been gyrating wildly--mostly to the downside--ever since. Not only did the rate cut fail to spark a recovery in the flagging equity market, at least in the short ... (full story)