America’s Saving Surprise
The household saving rate in the US has tripled in the past three years. If the saving rate continues to rise rapidly, it could push America’s fragile economy into another downturn, which would mean lower imports and potential problems for countries that depend for their employment on exporting to the US.
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CAMBRIDGE – The household saving rate in the United States has tripled in the past three years. Why? And what does it mean for the US economy and the rest of the world?