You can see the same cycle in shipping rates too as people attempted to stock inventory ahead of tariff deadlines... the short term market more than doubled from the lows of the year
Households still have around $1.7 trillion in excess savings they accumulated through mid-2021, down from a high of $2.3 trillion, according to estimates by Fed economists.
Around $350 billion in excess savings as of June were held by the lower half of the income distribution