Here's some related data that may help expand our understanding: Household debt service payments as a percent of disposable personal income are as low as they

Here's some related data that may help expand our understanding: Household debt service payments as a percent of disposable personal income are as low as they have ever been: https://fred.stlouisfed.org/series/TDSP https://fred.stlouisfed.org/series/TDSP Personal savings rate has never been better: https://fred.stlouisfed.org/series/PSAVERT https://fred.stlouisfed.org/series/PSAVERT Household debt to GDP saw a spike at the beginning of the pandemic, but still is much lower than we were coming out of the last recession: https://fred.stlouisfed.org/series/HDTGPDUSQ163N https://fred.stlouisfed.org/series/HDTGPDUSQ163N Disposable income has never been higher: https://fred.stlouisfed.org/series/DSPI https://fred.stlouisfed.org/series/DSPI