Personal income per person in the United States and the savings rate dropped sharply in February but remained much higher than normal due to government stimulus payments, according to data released this morning by the Bureau of Economic Analysis (BEA). 

Legislation introduced by four Democrats in the Senate yesterday would hike the estate tax on the top half of the 1% of wealthiest Americans, and Secretary of the Treasury, Janet Yellen, told the Senate Banking Committee on Thursday that her views on the size of the national debt have evolved since 2017. Meanwhile, the Standard & Poor’s 500 stock index set a new all-time closing high price.