Americans aren't rebuilding their savings fast enough | CNN Business

If that “someday” were today, how would the average American hold up financially? Fairly well, but at the expense of their nest eggs, according to a new analysis from the JPMorgan Chase Institute. “We see families building savings back up more slowly than they spend them down, so if many families lose savings in a recession, it could take a while for them to recover,” said Chris Wheat, president of the JPMorgan Chase Institute, a think tank within the country’s largest bank.

That’s left them with dwindling cash buffers, he told CNN. In his research, Wheat defines a cash buffer as the amount of time someone could keep up their regular spending without any income or access to new credit. In June 2021, the top-income quartile of Chase customers had a median cash buffer of 43 days, while the lowest-income quartile had a median cash buffer of 22 days.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

More stimulus 'desperately' needed as China's economic recovery slows further | CNN BusinessChina’s economy expanded by 6.3% in the second quarter from a year ago because of a low base, the National Bureau of Statistics said on Monday, with momentum slowing following a strong reopening in the first quarter.
Источник: cnni - 🏆 326. / 59 Прочитайте больше »

Russia seizes control of Danone, Carlsberg assets | CNN BusinessMoscow has seized control of the Russian subsidiaries of French yogurt maker Danone and Danish brewer Carlsberg, highlighting risks facing foreign firms that continue to do business in the country.
Источник: cnni - 🏆 326. / 59 Прочитайте больше »

Tickets for Messi's US debut cost as much as $110,000 | CNN BusinessTickets for Messi's expected first match for Inter Miami in the Leagues Cup are selling as much $110,000
Источник: CNN - 🏆 4. / 95 Прочитайте больше »

Bulls and bears are locked in a battle for Wall Street | CNN BusinessBulls and bears have always engaged in battle on Wall Street. But the divide between so-called “bulls” and “bears” — optimistic investors who forecast rising stock prices and pessimistic investors who expect declining stock prices — is growing wider.
Источник: CNN - 🏆 4. / 95 Прочитайте больше »