Per Axios
Americans are Sitting on a Collective $1.7 Trillion in Excess Savings Built Over the Pandemic
11/8/2022
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A report by Axios said that collectively, Americans are sitting on $1.7 trillion in excess savings built over the pandemic. The article defined excess savings as extra cash reserves caused by pandemic-related factors.
The second and third quartile of earners retained over 92% and 85% of excess savings built over the respective periods.
The bottom and top quartiles of earners saw larger declines holding 54% and 69% of what they amassed, respectively.
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