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U.S. Household Saving Rate Vanishes, Credit Card Debt Soars

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U.S. Household Saving Rate Vanishes, Credit Card Debt Soars
A person shops in a supermarket in Washington on May 26, 2022. Nicholas Kamm/AFP via Getty Images
Daniel Lacalle
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Commentary

The U.S. consumption figure seems robust. A 0.9 percent rise in personal spending in April looks good on paper, especially considering the challenges that the economy faces.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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