Nearly Half of Americans Have Less Than $1,000 in Savings Despite Slowing Inflation
• 22% of Americans surveyed said they have no personal savings, while 20% have less than $1,000 in savings • 23% said they only have enough savings to cover basic costs of living for a few days • Lack of savings signals economic vulnerability despite economy withstanding rate hikes • Inflation has slowed from 9% peak in 2022 to 3.4% in December 2022 • Risks remain of policy uncertainty weighing on hiring and investment, hampering soft landing