 TITLE: How Much Money Should I Be Saving? CONTENT: Americans Are Saving More During the COVID-19 Pandemic\n------------------------------------------------------\nIn the months since the coronavirus pandemic began, Americans have stepped up their savings. The U.S. personal saving rate, which measures the share of disposable income that people save after covering necessities, stood at 12.8% in March 2020, then soared to a record-high 33.5% in April before dipping to 19% in June. By comparison, the saving rate never exceeded 8.6% in 2019. Before this year, the highest U.S. saving rate was 17.3% in May 1975, when the U.S. was emerging from a yearslong recession.\nWhat has driven up the saving rate this year? Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis, attributes this spike to stay-at-home orders and business closures curbing spending among those who are still employed. END