By Andrew Haughwout, Donghoon Lee, Daniel Mangrum, Joelle Scally, and Wilbert van der Klaauw Total household debt increased by $312 billion during the second quarter of 2022, and balances are now more than $2 trillion higher than they were in the fourth quarter of 2019, just before the COVID-19 pandemic recession, according to the Quarterly Report …
The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows an increase in total household debt in the second quarter of 2022, increasing by $312 billion (2%) to $16.15 trillion. Balances now stand $2 trillion higher than at the end of 2019, before the …
The latest data is out from the Federal Reserve Bank of New York on household debt. They observed that overall household debt has substantially increased and is nearing the pre-crash peak of 2008. Consumer debt issues go in cycles. We have a crash, followed by a tightening, then slow relaxation of credit and a build …
From Deutsche Bank, some interesting numbers on debt in America. “Market participants have recently fretted over debt levels in the United States, especially in light of the S&P downgrade of US sovereign debt. While the debt ceiling crisis and subsequent loss of AAA rating have highlighted the massive rise in government debt since the recession …
