After record savings in 2020, Americans are flush with cash and ready to spend!
Thanks to generous stimulus payments and a basic lack of things to spend money on in 2020, Americans socked away 13.7% of their disposable income. That’s a multi-decade high!
Now that the reopening is here, consumers are ready to put that money to work. And that’s great news for the economy.
Spending on products and services has been picking up. Companies are reporting strong profits and telling investors to expect more growth through the end of the year.
This has helped to propel stock prices to record highs. But at the same time, the overall market is actually becoming less expensive when