Americans have wiped out $3 trillion in savings in the past 3 years, mostly from stimulus checks

Americans have burned through $3 trillion in household savings in less than three years, according to data from the Commerce Department. Between March 2020 and August 2021, families across America stacked up around $2. 1 trillion in extra cash—mostly from stimulus checks and pandemic slowdowns. That pile is now gone. By the second quarter of 2024, […] source: https://www.cryptopolitan.com/americans-wipe-out-3-trillion-in-savings/