Savers Are Finally Being Paid, and They Are Acting Like It
After years of earning nothing, household savers have become rate shoppers, and the deposit market is behaving like a market again.
After years of earning nothing, household savers have become rate shoppers, and the deposit market is behaving like a market again.
Facing depositors who can move money in seconds, smaller banks are investing in retention tooling that watches balances the way retailers watch shopping carts.
The largest generational wealth transfer on record is underway. Most of it is moving to households that were already comfortable, and much of it is being consumed by end-of-life costs before it moves at all.
Beneath the affordability complaints, savings behavior has shifted. Households are extinguishing revolving debt at rates not seen in a decade.