WASHINGTON (AP) — Americans' incomes have stagnated for three straight months. Yet they boosted their spending in September 0.6 percent — three times the increase in August.
Under normal circumstances, that would be a troubling sign for the economy.
But a closer look at Friday's report from the Commerce Department on September income and spending suggests another possibility: Many people are cutting their savings because the interest they are earning has become nearly worthless.
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