“Americans will run out of pandemic savings next month, Fed warns”

“…Research by economists at the Federal Reserve Bank of San Francisco found Covid-related savings in the US had fallen to less than $190bn (£149bn) in June.

This was down from $2.1 trillion at its peak in August 2021, which was fuelled by a $800bn giveaway that handed American households Covid support cheques worth thousands of dollars…”

https://finance.yahoo.com/news/americans-run-pandemic-savings-next-172045987.html

If savings run out people will start borrowing. Expect to see more borrowing would be my guess. The smart thing to do would have been to live below their means but if they did that they wouldn’t have burned through their savings. Keep in mind this is not all savings. In any case it looks like hard times are coming. Get ready.