Talmon Smith on the Great Inflation Surge of 2021
Macro Musings with David Beckworth
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What Is Left of People's Cash Reserves During This Pendemic?
Excess savings is the amount by which people's cash reserves during this cobet 19 crisis have exceeded what they normally save in a counter factul where none of this had happened at all. Excess savings, to the extent they are excessive compared to the counterfactro cobe, it never happened. The phenomenon goes across all income groups but particularly among older folks and those with higher incomes.
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