Americans’ Pandemic-Era ‘Excess Savings’ Are Dwindling for Many

Infusions of government cash that warded off an economic calamity have left millions of households with bigger bank balances than before the pandemic — savings that have driven a torrent of consumer spending, helped pay off debts and, at times, reduced the urgency of job hunts.

But many low-income Americans find their savings dwindling or even depleted. And for them, the economic recovery is looking less buoyant.