When Inflation Is Low, Where Should You Put Your Money?

Numbers out this week from the Commerce Department showed the U.S. economy slowed to a near halt in the first quarter of the year, with gross domestic product growing just 0.2 percent.

That is a good indication that the current low inflation will likely not meet the Federal Reserve's goal of 2 percent anytime soon, and in turn its commitment to near-zero percent interest rates is also likely here to stay.

So what does all of this mean for your bank account? Here & Now's Peter O'Dowd asks personal finance columnist Jonathan Clements.