On the Money: Fed's rate cuts strike savers' pocketbooks

FILE - In this Sept. 24, 2013 file photo, freshly cut stacks of $100 bills make their way down the line at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas. After several years of increasing the meager interest they paid on savings accounts and certificates of deposit, banks are starting to trim their offerings to savers. The declines are slight, usually less than 0.25 of a percentage point, but the trend is certain to continue for at least the next six months to a year, experts say. (AP Photo/LM Otero, File)

Banks start to cut interest rates offered to savers, after years of modestly increasing the amount of money they paid for deposits

A recession will come. How bad will it be?

A woman gathers coal in Scott's Run, W.Va., in 1937, during the Great Depression. (Lewis Hine via U.S. National Archives)

There have been 11 recessions since World War II. On average, they lasted 11.1 months, according to the official scorekeepers at the National Bureau of Economic Research.

A 'catastrophic' trend in Maine: A shortage of caregivers

Albert Rose, owner of Allen's Seafood, talks on the phone while fishermen unload their catch last month in Harpswell, Maine. With a median age of 57, Harpswell is the oldest town in the oldest state, by population. (Marlena Sloss/The Washington Post)

The disconnect between Maine's aging population and its need for young workers to care for that population is expected to be mirrored in states throughout the country over the coming decade, demographic experts say.




Business Briefs

Business Briefs

New London praises DEEP decision to allow restaurant on pier

A rendering of the proposed Whaling City Dock. Restaurant Consultants Inc. President Frank Maratta has been negotiate a lease with New London and state Department of Energy and Environmental Protection officials for space to open Whaling City Dock, a restaurant and oyster bar overlooking the water on Custom House Pier. (Courtesy of Restaurant Consultants Inc.)

In a turnaround that city officials tout as a gamechanger for the city’s underused waterfront, state environmental officials have signed off on establishment of a seasonal restaurant and bar on Custom House Pier.

Downtown Norwich parking to be discussed Tuesday

Two workshops planned for Tuesday will examine downtown Norwich parking conditions, needs and parking trends across the country.