U.S. households are holding roughly $5 trillion in checking accounts, a five-fold surge from the pandemic that's now driving consumer spending and workforce exits. Economists disagree on why.
What about when you just send money to human beings, right? You just send money there. What happens? Well, you get, you know, something that's very immediate and very powerful. You see consumers— consumer spending spike and you see people exiting the workforce. And we're going to— we're going to look at some of those— those things. This is a— this is a shocking chart. And there's actually a lot of debate amongst economists as to what is going on here. This is the This is the checking deposits and currency in households' checking accounts. We are seeing $5 trillion in cash sitting in people's checking accounts. This goes back to 1950. Look at this. And it spiked up here in COVID. It went up 5x post-COVID. Is that nuts?
