Once Flush Savings Accounts Are Starting to Run Dry
The cushion of savings many built up during the pandemic is thinning out. In some households, it is already gone.
Americans have spent down about 35% of the extra savings they accumulated during the pandemic as of mid-January, according to an estimate from Goldman Sachs. By the end of the year, the company forecasts that they will have exhausted roughly 65% of that money.