Economy

progree

(11,493 posts)

8. "Flush with Cash" - The Personal Savings Rate was elevated during the pandemic

Fri Apr 29, 2022, 09:58 PM

Apr 2022

Should has said "relatively" . Anyway I think that's the basis of his "flush with cash" comment; I've seen similar terms in various media reports too.

https://fred.stlouisfed.org/series/PSAVERT

but I see it's back down to about the average of the last few pre-pandemic years

Particularly with the expiration of the enhanced child tax credit and the enhanced earned income credits that expired at the end of 2021 if I'm not mistaken. (The stimulus checks and enhanced unemployment benefits have been long gone).

Date range of the graph: 11/5/92 to March 2022. Latest value: 6.2%. The personal savings rate is also part of the Personal Consumption / Personal Income / PCE report linked to in the OP.

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