Americans will likely deplete the rest of the excess savings they accumulated during the pandemic this quarter, according to a new study from the Federal Reserve Bank of San Francisco.

After rapidly accumulating “unprecedented” levels of excess savings during the pandemic, the San Francisco Fed estimates American households held less than $190 billion in aggregate excess savings as of June.

  • who8mydamnoreos@lemmy.world
    link
    fedilink
    arrow-up
    64
    arrow-down
    3
    ·
    1 year ago

    Yup the average person just spent the last of the whole $1200 that they have been living off for 3 years with no job. Thats totally in touch