• Americans have saved $1.6 trillion since the pandemic started, per the Commerce Department.
  
  
• That’s roughly half of overall global savings during the pandemic, and the same as South Korea’s GDP.
  
  
• It’s also greater than the output gap, or economic hole created by Covid-19, signaling a coming economic boom.

Experts are currently projecting 4.6% growth for US GDP this year, per Bloomberg. If Americans spend all the money they saved in the past year, that could jump to 9%; whereas if they don’t, the GDP forecast could drop to 2.2%.

It’s why so many economists are predicting that lockdown lifting will see the biggest boomtime in a generation, potentially ushering in a new era in the US economy.

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