Households are spending more and savings less, enjoying their summer and getting ready for school, as government data on personal income and spending released on Friday suggests. In short, households are getting back to normal. … READ MORE >
personal savings
U.S. personal income and savings: Households are building impressive cash positions
Americans’ personal income increased by 0.6% in December, driving savings positions higher. The gains are creating the conditions for what we believe will be a consumer-led boom in the second half of the year. … READ MORE >
U.S. precautionary savings and the coming economic expansion
Savings by American households have soared to $1.1 trillion above their long-term average from 1965 to 2020. That excess savings and near-term policy decisions around fiscal aid and stimulus will play a large role in determining the shape, scale and duration of what we expect to be the coming economic expansion. … READ MORE >