From Wall Street Journal:



U.S. consumers are depleting their pandemic savings and taking on more debt due to high prices on essential items. Marianne Lake, co-chief executive of JPMorgan Chase’s consumer bank, revealed that the lowest-income clients had increased their cash on hand from 12 to 15 days during the pandemic, indicating that they are close to spending all the money they saved. This financial strain is a result of elevated costs for food, housing, and other expenses.



Original: Credit-Card Spending Piles Up as Savings Dwindle