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.
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
I’m not sure you can call the average American job-less when the unemployment rate is only 3.5%
Because no one wants to work right? They are all living off the massive $1200. I forgot about the sarcasm blind so just in case s/
Funny thing about numbers, you can get them to say whatever you want. 70% of statistics are made up. Part-time temporary work is not a job you can survive off.
Paycheck to paycheck, then crazy inflation.
Savings? What savings?
Oh, you mean the $200 I have left after paying all my medical bills.
I’m sure that will appreciate significantly and I’ll have a comfortable retirement.
$200? You rich bastard! Eat him!
No! Wait! Stop! I have ramen!
I like squid.
The 190 billion all belongs to 5 people.
This is not far from the truth. The data shows excess savings. But it is not the middle class, at least the part making $100,000 a year or less, holding it and definitely not the poor.
Savings? Why do these politicians and fucking media company spewing that BS like we still have those 1200 dollar checks we got 3 freaking years ago?
Like they think it still the 1950’s.
Y’all have saving?
“Finally! We were worried something might not go in our favor for once and we were going to have to blow up the economy to punish you rubes.” - finance industry
when i hear shit like “$190 billion” i literally don’t know what that means
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