Somewhere around 17.7 percent of the U.S. population is now over 65 years old — the highest number since 1920 and significantly more than 2010’s 13 percent. In a few words, the American population is aging rapidly, and that’s changing the country’s mix of economic activity in unexpected ways, including which sectors are prospering most and which are not. This will affect our country in both the short and the long run. Consider inflation. Americans over 65 — those now enjoying their golden years — are less likely to be worried about debt and the interest rates they might pay when borrowing money. This affects the ability of the Federal Reserve to use interest rates to slow the econo
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