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Americans are savings less these days. Here’s why and what that means

todayApril 14, 2024 6

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Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. That’s part of the reason why consumer spending has been so robust since the economy ascended from pandemic depths, despite high inflation and elevated interest rates. But when saving slows (or stops), it puts households in a vulnerable position, especially those with low incomes, economists say.

​ Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. That’s part of the reason why consumer spending has been so robust since the economy ascended from pandemic depths, despite high inflation and elevated interest rates. But when saving slows (or stops), it puts households in a vulnerable position, especially those with low incomes, economists say. Read More Breaking News, Latest News and Videos | CNN 

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