U.S. Economic Imbalances Recovering

The U.S. economy may be recovering, but its imbalances are also recovering as evidenced by the fact that the household savings rate fell to 3.7% in February, down from the roughly 5% seen in 2010 and 2011, and the lowest since January 2008 (and briefly again August 2009, but it was a percentage point higher both the month before
and after).