Americans have now spent all $2.1 trillion of their pandemic savings, San Francisco Fed says - eviltoast
Consumer spending hit a peak of $85 billion per month last fall.
  • iopq@lemmy.world
    62·
    6 months ago

    People spending all their savings is a consumer confidence indicator. Almost never a recession indicator

    • venusaur@lemmy.world
      7·
      6 months ago

      But if they’ve spent all their savings they might not have money for things like a mortgage going forward

      • ultranaut@lemmy.world
        42·
        6 months ago

        Unemployment is still very low, there’s likely not enough people in that kind of situation to have a significant impact on the housing market.