Liberty Street Economics: Who Pays What First? Debt Prioritization during the COVID Pandemic

F E D E R A L   R E S E R V E   B A N K   o f   N E W  Y O R K LIBERTY STREET ECONOMICS   Who Pays What First? Debt Prioritization during the COVID Pandemic   William J. Arnesen, Jacob Conway, and Matthew Plosser Since the depths of the Great Recession, household debt has increased from a low of $11 trillion in 2013 to more than $14 trillion in 2020. The authors examine how consumers' repayment priorities have evolved. Specifically, they seek to answer: When consumers repay some but not all of their loans, which types do they prioritize?   READ MORE

 

 

 

 

 

 

 

 

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