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 Oil Prices Waver as U.S. Stockpile Growth Meets OPEC+ Supply Cut Speculation READ MORE Fed Holds Rates Steady, Hints at Easing Monetary Policy Soon READ MORE Rosenberg Forecasts Gold to Hit Unprecedented $3,000 READ MORE Rethinking the 60/40 Strategy: BofA Suggests Commodities as the New Fixed Income READ MORE Record Lows for Yen Trigger Stock Surge – But at What Cost? READ MORE Add a Comment Cancel replyYour email address will not be published.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