This is bad -- very bad . . .
JPMORGAN: AMERICANS’ EXCESS SAVINGS GONE:
In a recent research report, JPMorgan analysts wrote that Americans’ excess savings, which totaled $2.1 trillion in 2021, are now completely gone.
Without any savings left, Americans have turned to credit cards – now with a total balance of $1 trillion.
Higher inflation will return this fall and hurt Americans, especially the 60% who are living paycheck to paycheck. Discretionary spending will drop, which will put pressure on retailers and could lead to overall stock market weakness.
JPMORGAN: AMERICANS’ EXCESS SAVINGS GONE:
In a recent research report, JPMorgan analysts wrote that Americans’ excess savings, which totaled $2.1 trillion in 2021, are now completely gone.
Without any savings left, Americans have turned to credit cards – now with a total balance of $1 trillion.
Higher inflation will return this fall and hurt Americans, especially the 60% who are living paycheck to paycheck. Discretionary spending will drop, which will put pressure on retailers and could lead to overall stock market weakness.
This is bad -- very bad . . .
JPMORGAN: AMERICANS’ EXCESS SAVINGS GONE:
In a recent research report, JPMorgan analysts wrote that Americans’ excess savings, which totaled $2.1 trillion in 2021, are now completely gone.
Without any savings left, Americans have turned to credit cards – now with a total balance of $1 trillion.
Higher inflation will return this fall and hurt Americans, especially the 60% who are living paycheck to paycheck. Discretionary spending will drop, which will put pressure on retailers and could lead to overall stock market weakness.
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