Personal income just hit a record high — here’s where the spending is going
Personal income jumped by more than $4 trillion last month, a record 21.1 percent increase. Personal income jumped by more than $4 trillion last month, a record 21.1 percent increase, the Bureau of Economic Analysis reported on Friday. Economists had been predicting a spike as stimulus payments reached people’s bank accounts and the improving economic picture pulled more displaced workers off the sidelines, but the increase exceeded even their optimistic projections. “All the stars are aligning,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “You have the…