NEW YORK: American households had an extra US$4.2 trillion (RM17.66 trillion) of readily available cash at the end of last year compared with before the pandemic, after they received more government support and trimmed spending due to Covid curbs, according to the latest Federal Reserve data.
Savings increased to US$14.7 trillion (RM61.80 trillion) from $10.6 trillion (RM44.56 trillion) at the end of 2019, the Fed data show.
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