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News@lemmy.world · 7 months ago

Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says

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Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says

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News@lemmy.world · 7 months ago

Consumer spending hit a peak of $85 billion per month last fall.

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7 months ago
Sorry what? People SAVED during the pandemic! Who are these people?
- Cryophilia@lemmy.world
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  7 months ago
  Mostly high earners / high spenders who suddenly had nowhere to spend all their money.
  
  Also some extremely low earners who got elevated unemployment for a while.
  
  And PPP grifters.

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