A new paper from the St. Louis Federal Reserve says that Americans are hoarding cash. According to the report, Americans have still not completely loosened their purse strings from the recession. As a result, the economy is not recovering as quickly as it should be. I tend to agree with the findings in this paper. After all, I know that my household spending has not returned to the level it reached before the recession. In some ways, it is comforting to know that we have more of a cash cushion available for unexpected events. However, it feels unpatriotic to know that I may be hindering the economic recovery. What do you think? Are you a cash hoarder?
Are you a cash hoarder?
A new paper from the St. Louis Federal Reserve says that Americans are hoarding cash. According to the report, Americans have still not completely loosened their purse strings from the recession. As a result, the economy is not recovering as quickly as it should be. I tend to agree with the findings in this paper. After all, I know that my household spending has not returned to the level it reached before the recession. In some ways, it is comforting to know that we have more of a cash cushion available for unexpected events. However, it feels unpatriotic to know that I may be hindering the economic recovery. What do you think? Are you a cash hoarder?
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