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People who see increased wealth through the stock market are putting less of their income aside. Others are dealing with higher prices and simply aren’t able to save as much.
One reason? Savings rates are coming down from a high early in the pandemic, when many Americans were able to hold on to extra cash.
We’ve spent the $2.1 trillion that two San Francisco Fed economists say we saved during the pandemic.
People in the U.S. saved an estimated $2.1 trillion at one point in the pandemic. By some estimates, that money’s pretty much gone.
