Liberty Street Economics: Historically Low Delinquency Rates Coming to an End

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   Historically Low Delinquency Rates Coming to an End   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, according to the New York Fed's Center for Microeconomic Data. Households in general have weathered the pandemic remarkably well, due in part to support programs. However, the authors are seeing a hint of the return of the delinquency and hardship patterns evident prior to the pandemic.   READ MORE

 

Stay Connected:  @NewYorkFed | @NYFedResearch  | Facebook | LinkedIn | YouTube Download our  Economic Research Tracker to your iPhone® or iPad® Unsubscribe | Got this from a friend? Subscribe.

---

This email was sent to franchmaverickk.secretwords123@blogger.com using GovDelivery Communications Cloud on behalf of the Federal Reserve Bank of New York