So Long, and Thanks For All the Savings

So much for that brief U.S. dalliance with a higher savings rate. The latest BEA release shows that August personal savings rate in the U.S. fell to 3.0%. Here is a Bloomberg chart putting it all in context.

To be somewhat more serious, and as the following figure shows, the trend is still to higher levels, even if there is lots of noise around it – and even if we’re going to get to 9% quickly.