The regional Fed bank said in its latest Quarterly Report on Household Debt and Credit that total levels of debt during the recently finished quarter rose 0.8% from the prior quarter to $17.94 trillion. Total debt levels are up $3.8 trillion since the close of ...
"An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households," said Joelle Scally, regional economic principal for the New York Fed's Household and Publicly Policy Research Division. AMERICANS ARE CARRYING A RECORD AMOUNT OF HOUSEHOLD D...
As Americans dealt with high inflation and recession fears, they also faced record debt, according to the latestdata by the New York Fed. Total household debt increased to $17.05 trillion in the first quarter of 2023, the NY Fed reported. That marked an increase of $148 billion quarter-over...
The survey also showed improved attitudes about the job market and household credit conditions. The perceived probability that the jobless rate would be higher a year from now fell to 34.5%, its lowest since February 2022, and consumers estimated the likelihood of losing ...
Read MoreHeavy burden of college debt: Sen. Warner Credit inquiries within six months—a bellwether of borrowing demand—rose by 4 million from the previous quarter, to 175 million, according to the New York Fed report. Mortgage originations, which include both new mortgages and refinancings, ...
and prevent their children from being used as tools for violence. A peace commission, established relatively recently, is aiming to engage actively with women to generate peace talks in the household, marketplaces and amongst political class to drive development and reconciliation for peace to be ...
At the same time, households were more downbeat about their financial situation and ability to access credit. The median expected growth in household income fell by 0.3 percentage points to 2.9% in August, the lowest reading since July 2021. ...