Are Americans’ Pandemic Savings Gone?

Are Americans’ Pandemic Savings Gone?
Shutterstock
Anne Johnson
Updated:
0:00

The pandemic, with its lockdown, had several adverse effects on Americans. But there was one saving grace: accumulated savings. People couldn’t spend their money, so they saved it.

But since the lockdown has been lifted, what’s happening with all that savings? Are Americans still saving, or is it all gone?

Pandemic Excess Savings

The federal government’s answer to the lockdown was releasing several stimulus packages. The result was that between 2020 and 2021, $5 trillion was injected into the economy.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.
Related Topics