Shrinking savings and rising debt leave consumers on shaky financial footing


WASHINGTON — U.S. households have been whittling down their savings and taking on increasing amounts of debt, putting many in a weaker position to weather an economic downturn that has grown all the more likely following recent turmoil in the banking industry.
Fears of a slowing economy were renewed this week when U.S. regulators took over Silicon Valley Bank, Swiss officials…
This story appeared on nbcnews.com, 2023-03-18.