Americans are exhausting their excess savings - and could run out funds this quarter, Fed study says

• Americans are burning through their savings and could run out funds as early as this quarter, a Fed study showed. 
• As of June, Fed estimates show US households held less than $190 billion of aggregate excess savings. 
• With excess savings dwindling, Americans have leaned on their credit cards for spending. 

Americans are exhausting their pandemic savings – and could run out of funds by the end of the third quarter, according to the Federal Reserve Bank of San Francisco. 

Excess savings refer to the difference between actual savings and the pre-recession trend, Fed researchers said.  

As of June, Fed estimates show that US households held less than $190 billion of aggregate excess savings.