Americans are starting to plunge into the huge savings they accumulated during the first two years of the pandemic.
According to Moody’s Analytics, from the start of the pandemic to the end of 2021, US households have accumulated an additional $2.7 trillion in savings. The Covid-19 lockdown left people at home with no money to spend, and three stimulus payments boosted their incomes.
https://www.wsj.com/articles/americans-tap-pandemic-savings-to-cope-with-inflation-11657013400?mod=rss_markets_main Americans tap pandemic savings to deal with inflation
