Pandemic Savings Depleted: Economic Uncertainty Looms as American Debt Rises During the pandemic, Americans saved an impressive $2.1 trillion, fueling sustained consumer spending and economic resilience amidst rising interest rates and persistent inflation. However, recent reports from San Francisco Federal Reserve economists Hamza Abdelrahman and Luiz Edgard Oliveira indicate that these pandemic-era savings are now depleted, with many Americans having more debt than savings as of March 2024. This shift from savings to debt raises concerns about the future of consumer spending, which is a key driver of the U.S. economy. With the depletion of excess savings and an increase in consumer debt and delinquencies, there are growing worries about potential economic downturns. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts China Launches Massive $140 Billion Bond Sale to Fuel Economic Growth READ MORE Energy Prices Climb Following Strong Week for Oil READ MORE Rising Delinquencies Among Low-Income U.S. Borrowers Signal Economic Warning READ MORE Gold Prices Ease After Record Surge Amid Middle East Strife READ MORE The Latest Inflation Breakdown READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment