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 Asian Gold Demand Surges Despite Near-Record Prices READ MORE Citi's Bullish Forecast for $3,000 Gold in 2025 READ MORE UBS Analysts: Gold Market Not Overextended Despite Record Prices READ MORE The Day the Hunt Brothers Capped the Price of Gold READ MORE Gold Hovers Near $2,400 as Rate Cut Expectations Grow READ MORE Add a Comment Cancel replyYour email address will not be published.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