Cash-Rich Consumers Could Mean Higher Interest Rates for Longer

Consumers and businesses buoyed by pandemic-fueled savings are proving less sensitive to tighter credit, which means more work for the Fed

Buoyed by pandemic-fueled savings, consumers and businesses are proving less sensitive to tighter credit—complicating the Fed’s job U.S. households have an extra $1.7 trillion in savings, according to estimates by the Federal Reserve.

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