Government stimulus has left many consumers with some extra savings, and it's a good sign for the economy, according to JPMorgan Chase CEO, Jamie Dimon. As more consumers save and pay down debt, they're more ready than ever to get back out and spend. PressRelease.com offers some of the best press release distribution services in the industry, helping small and midsize organizations capitalize on opportunities for business growth through business news, media outreach, and company announcements.
"According to many analysts, consumer spending has returned to pre-pandemic levels, due in part to the ease and convenience of e-commerce," according to Erik Rohrmann, COO at PressRelease.com. "A similar situation is happening for smaller companies, many of which have taken advantage of the government's Paycheck Protection Program. Industries like travel and hospitality are expected to rebound as well as vaccinations continue to pick up."
Many Americans at this point have received three rounds of stimulus on top of improved unemployment benefits. According to JPMorgan Chase CFO Jennifer Piepszak. "They've been saving roughly 30% of their stimulus checks from each round and have recently been plowing more money into debt repayment."
Consumer confidence is increasing, and many are eager to get back out to spend. "What happened is the consumer has so much money, they're paying down their credit card loans, which is good," according to Dimon in an interview with CNBC. "Their balance sheet is in excellent, outstanding shape - coiled, ready to go and they're starting to spend money. Consumers have $2 trillion in more cash in their checking accounts than they had before Covid."
PressRelease.com connects its customers with industry media professionals and audiences around the world through its award-winning press release distribution services. Clients can build trust with the public and grow their brand using PressRelease.com's comprehensive distribution network and publish company news on prominent business networks like MarketWatch, Bloomberg, Yahoo! Finance, Morningstar, CBS, ABC, FOX, and NBC.
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Original Source: PressRelease.com Helps Businesses Stay Top of Mind as Confidence Increases and Consumers Continue to Pay Down Debt During Pandemic
