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Is the U.S. Consumer in Trouble Heading Into a Potential Recession?

Is the U.S. Consumer in Trouble Heading Into a Potential Recession?

It may sound counterintuitive, given that during the early months of the pandemic, unemployment surged and broad swaths of the economy closed for months at a time. It's quite remarkable to look at the fluctuation in recent years of the U.S. personal savings rate, which is defined as personal savings as a percentage of disposable personal income. Personal savings hit a record high by a large amount early on in the pandemic but have now sunk to record lows.