Economy

progree

(11,493 posts)

7. The personal savings rate was much elevated during most of 2020-2021, but is now down to

Sun May 1, 2022, 12:52 PM

May 2022

approximately the average of the last few pre-pandemic years. This comports to what the OP's article is saying about personal income.

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

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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