While it is easy to lose track of time, global monetary affairs have been in this very unusual territory for quite some time. It is now six years since the financial crisis was at its peak.
Even with the knowledge that the recovery from financial crises can be frustratingly slow, few observers predicted that the crisis would throw such a long and enduring shadow over monetary and financial conditions in so many countries. This shadow has created a difficult environment for savers and those managing savings. Perhaps at the risk of over-simplifying things, they have three basic choices: 1.