America’s cash hoard could cushion a downturn

Inflation is high, the Federal Reserve is raising interest rates, the real estate market is weak, and big retailers like it Walmart have sent warning signals. But despite all the ominous signs of where the economy is headed, many Americans have something they typically lack when entering a recession: plenty of cash.

Several rounds of government relief and sharp cuts in spending on services like travel have added to US household savings over the course of the pandemic, and most of the money is still there. America’s cash hoard could cushion a downturn

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