News | 12.02.21
COVID-19 Made Americans into Super Savers. Now They’re Hoarding Cash.
Over the past two years, households have socked away close to $1.6 trillion in “excess savings” or resources they otherwise wouldn’t have been able to save before the pandemic, according to the Federal Reserve Bank of New York. The funds are well beyond the three to six months of emergency savings generally recommended by financial advisors. With the Omicron variant of the coronavirus threatening to disrupt stability once again, experts say the cash hoarding will continue.
Read the full article on Wall Street Journal