U.S. consumer cash balances are more than $3.2 trillion above the 2010–2019 trend, Ryan Detrick notes

U.S. consumer cash balances are more than $3.2 trillion above the 2010–2019 trend, Ryan Detrick notes
U.S. households hold record $20 trillion cash

Ryan Detrick, chief market strategist at Carson Group, highlights that U.S. households currently have a record $20 trillion in cash, which is over $3.2 trillion above the 2010–2019 trend.

Detrick suggests that this significant cash buffer may contribute to the ongoing strength of U.S. consumers.

Detrick previously reported that a proprietary Carson Group economic index is signaling rapid U.S. economic improvement, even as recession worries persist, according to a recent update. He has also observed that the S&P 500 has never peaked in June and expects the current all-time high trend to continue this year, as detailed in his historical analysis. These insights come as new data highlights elevated cash holdings among U.S. households.

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