During the pandemic, Americans' cash balances grew as the government handed out stimulus checks.
But those pandemic gains are long gone, and inflation has eaten away at Americans' bank accounts.
That might be why Americans feel so dreary about the economy, even with a hot labor market.
Indeed, relative to 2019 levels, cash balances are still higher across the board.
But they're still far from early pandemic highs, and still getting eaten up by high prices.
Persons:
Morgan, they're, Americans skyrocketing
Organizations:
Service, Morgan Chase, Americans
Locations:
Wall, Silicon