With inflation surging and pandemic-related stimulus rolling off the books, U.S. savers are under pressure.
In April, the U.S. personal savings rate fell to 4.4%, the lowest since September 2008, according to data from the Commerce Department published Friday.
“In a typical cycle, a sharp drop in the saving rate would be a warning sign about the sustainability of spending,” Wells Fargo economists led by Tim Quinlan wrote in a note published earlier this week.
“Because balance sheets are in such…
Source link
