US Personal Savings below Pre C19 Level (Patreon)

During 2020, U.S. citizens managed to amass an impressive $6 trillion in personal savings. However, a surge in inflation and the reopening of the economy swiftly eroded that substantial sum.

As of the present, the total personal savings have dwindled to $862 billion. This marks a 43% drop from the pre-pandemic level.

In other words, U.S. citizens find themselves with limited financial cushioning just as inflation remains elevated and the economy faces the possibility of entering a recession.