Coronavirus may create a generation of supersavers who reshape economy

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A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said.

Morgan Housel, partner at venture capital firm Collaborative Fund and author of “The Psychology of Money,” said in a phone call that the coronavirus crisis would lead to “a generation of supersavers” who were wary of taking financial risks.

“When you’ve suddenly woken up to the reality that the world is much more fragile than you once believed, you just have a much lower appetite to take risks about the future than you’ve had before,” he told CNBC.

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