A sharp slide in Americans' personal savings is threatening to hurt consumer spending, which has so far helped the US economy hold up in the face of recession warnings.
Billionaire investor Bill Gross recently weighed inon falling consumer savings levels, warning that Americans could run out of their pandemic savings later this year, paving the way for a recession.
This may be one of my favorite “out of touch billionaire” comments I’ve ever seen.
Billionaire investor Bill Gross recently weighed in on falling consumer savings levels, warning that Americans could run out of their pandemic savings later this year, paving the way for a recession.This may be one of my favorite “out of touch billionaire” comments I’ve ever seen.