US Households Amass $18 Trillion Cash Hoard, Offering Record Savings Buffer Against Downturns
• US households now hold an "unprecedented" $18 trillion in liquid assets, up $5 trillion in 2020 alone • Higher savings and wealth reinforce consumer resilience during downturns • Consumers added $950 billion in excess savings during the COVID pandemic • Household savings growing at fastest rate in nearly 30 years • Near 5% interest rates on cash could mean $1 trillion in risk-free returns for consumers