The “Consumer Cash Pile” just hit a new record of $21.8T in Q2 2025, up from $14.8T in 2019.
But the distribution tells the real story:• Top 1% and higher-income brackets have 7%–25% more cash than in 2019, even after adjusting for inflation.• The bottom 20% is the outlier, now holding 20% less cash than pre-COVID.Checking accounts alone exploded from $1.5T to $5.4T, a clear driver of near-term spending.This excess liquidity has fueled consumption, helping retail sales climb from $495B/month in 2019 to $713B/month in 2025.COVID was the first "recession" in history where net worth rose instead of collapsing up $13.5T in 2020, with total household net worth now at a record $167T.Source: StockMarket.News
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