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The price you’re paying for saving

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day. Visit the ROB Insight homepage for analysis available only to subscribers.

Central bankers will tell you that the unprecedented monetary easing of the past several years spared us the pain of costly “haircuts” to the money of a wide swath of asset holders. Pimco’s Bill Gross will tell you it’s simply not true.