Americans have spent their savings. Economists worry about what comes next [CNN]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: CNN
New York CNN — That extra cushion meant that consumers kept spending in the years that followed and the economy remained robust despite rising interest rates and persistent, though gradually decreasing, inflation. But now that extra spending money is gone, economists are concerned about what comes next. What's happening: The most recent estimates of excess pandemic savings in the US economy have turned negative, according to Hamza Abdelrahman and Luiz Edgard Oliveira, economists at the San Francisco Federal Reserve. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. But now that excess savings have now dwindled to nothing, that could hurt spending and spell trouble for the American economy. Alar
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SPGI
Earnings
- 4/26/24 - Miss
SPGI
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 144
- 5/6/24 - Form 8-K
- SPGI's page on the SEC website