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I read articles in the Wall Street Journal (generally a liberal paper, except for their editorial staff), talking about interest rates being paid on CDs. How they've really not gone up, even though the 10 & 30 year yield are up, home loans are up 2%+, etc.
The writers' comments are that the banks are so flush with cash in their checking and savings accounts because of all the un-spent stimulus $$, that the banks don't need to raise what they are paying.
How much longer this $$ will last, is anyone's guess. I can't see how it could go on much longer, but, the employment stats coming out of the government right now are so contradictory that I have no idea. The labor force participation rate tells me that many workers are still "on the sidelines," probably a lot more than the stat shows.
A huge concern of mine is this. When men are out of work for extended periods (women react differently, in spite of what the liberal academia & entertainment industries want you to believe,) they tend to develop mental issues and then have a difficult time getting back to work. This was a huge, un-talked-about issue after the Great Recession.
It's now been, what?, 2½ years since the "Great Lockdown." I see the potential for real problems in the American future.
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Mike
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