Americans still haven’t run out of pandemic savings quite yet, JPMorgan study finds

American consumers still have cash savings they can dip into to fuel the economy. (Credit: Courtesy of Getty Images)

The U.S. economy may still have road yet to run, as JPMorgan discovered Americans haven’t quite finished raiding their pandemic-era piggy banks. 

One of the biggest questions facing Wall Street is how much powder households have been able to keep dry to fuel future purchases, and according to the latest Household Pulse study published by JPMorgan using anonymized data from roughly 9 million Chase customers, the median bank balance across all income groups still remained between 10% and 15% higher at the end of the first quarter of 2023 than at the end of 2019.