2023 The U S has been traditionally known as a relatively low saving country compared to | Assignments Online
2023 The U S has been traditionally known as a relatively low saving country compared to | Assignments Online
Assignments Online 2023 Business Finance
The U.S. has been traditionally known as a relatively low saving country, compared to countries like Japan. The U.S. personal saving rate had seldom gone into the double digits since the early 1990s (Source: the Federal Reserve Bank of St. Louis).
In response to the coronavirus pandemic, people inevitably try to save more. We observe that the U.S. savings are rising in an unprecedented manner: the U.S. personal savings rate (personal saving as a percentage of disposable personal income) hit a historic 33% in April 2020.
What are the impacts of a rising savings on the U.S. pandemic-hit economy?
Share your thoughts. 100 words minimum
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