GDP revisions and the US personal savings rate

In the last post, I mentioned the fact that the US personal savings rate was relatively high. And the context for this was how the Fed might believe savings act as a cushion for consumers. At the margin, this cushion would give the Fed less pause in raising interest rates. But let's look at why the figures are so high.
Benchmark revisions and residual Q1 seasonality
This report was the first under a major revision to reporting of US economic data. The Commerce Department make these adjustments c...


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