Americans are saving far less than normal in 2023. Here's why
, which traces back to 1959. In June 2022, the rate had dipped to 2.7%, a 15-year low.
"Something like $2 [trillion] to $2.5 trillion above what we would have otherwise expected were saved by American households," said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.
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