Yahoo Finance September 22, 2020
Americans are hoarding trillions of dollars in cash before the presidential election: Morgan Stanley
American households are socking away large sums of cash amid economic uncertainties later this year such as a new wave of COVID-19 and the post presidential election aftermath.
>U.S. consumers built up an astounding $12.5 trillion in excess of savings from April through July, according to new research by Morgan Stanley economist Ellen Zentner. This equates to 13.5 months of the $600 a week supplemental unemployment insurance benefit that lapsed on July 31, Zentner estimates.