The personal savings rate has a big spike over the pandemic, and household net wealth increased a lot between 2019 - 2022 (https://www.federalreserve.gov/public

The personal savings rate has a big spike over the pandemic, and household net wealth increased a lot between 2019 - 2022 (https://www.federalreserve.gov/publications/files/scf23.pdf https://www.federalreserve.gov/publications/files/scf23.pdf)* which is maybe what that safety net headline is about. The story seems to be large government deficits balancing out the high savings of households/businesses, which is why the overall savings rate is near zero. * Median household net worth increased by 35% from 2019 to 2022, adjusted for inflation. For the bottom quartile of households, the median household net worth increased by a whopping 900%.