Millionaires are hoarding cash

[tsptalk]

Millionaires are hoarding cash, betting on higher rates, CNBC survey says

Millionaire investors are adding to their mountains of cash, betting on higher interest rates and weak stock markets in 2023, according to the CNBC Millionaire Survey.

Millionaires are more bearish on the overall economy, however.

Inflation and higher interest rates are starting to affect the spending of the wealthy, although the changes are still small.

https://www.cnbc.com/2023/06/07/mil...betting-on-higher-rates-cnbc-survey-says.html

 

[Bullitt]

I figured all that savings was long gone months ago.

We have updated our estimates of how much excess savings households have left using the Fed’s methodology, and the conclusion is that consumers are almost out of pandemic savings.

https://apolloacademy.com/households-running-out-of-pandemic-savings/