CHART OF THE DAY: 2021 Deposits Increase Was Clearly Concentrated On High End

03/25/22 08:09AM EDT

Below is a chart and brief excerpt from today's Early Look written by Retail analyst Jeremy McLean. 

The number we have from FRED is actually $2.4Tn in incremental household checkable deposits and currency, but that’s ~$7,200 per person. Big spending tailwind, right?

Yes and no. The Chart Of The Day highlights the breakdown of the deposits build.

CHART OF THE DAY: 2021 Deposits Increase Was Clearly Concentrated On High End - JM1

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