Americans burned through $49BN in savings in Sept (from $1.049TN to $1.00TN), and $173BN since January. This is using the revised savings data which effectively doubled the Biden admin's estimate for how much savings US households have

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How do they know how much savings people have? I don't know of anyone who has an actual "savings" account anymore as the interest rates aren't worth it. In America anyway.

Always ask where the data comes from.