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Inflation is forcing people to use up their savings in a bad sign for the economy

Por: MarketWatch Politics September 30, 2022

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Many economists believed households had enough savings to help them cope with Inflation has jumped 8.3% in the past year to mark the fastest increase since the early 1980s. Some even thought relatively high savings could enable Americans to spend enough to avert a looming recession. Consumer spending drives about 70% of what goes on in the economy. Yet the government’s annual redo of household finances suggests Americans have far less of a... + full article



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