A look at the Quarterly Report on Household Debt and Credit for 2025:Q2 from the New York Fed, focusing on the landscape of the current mortgage market.| Liberty Street Economics
Catch up with Kartik Athreya as he answers questions about his experiences in his first year as director of research at the New York Fed. Kartik discusses some of the unique aspects of being a New York Fed economist, the importance of research, and the topics that have most resonated with him over the past year.| Liberty Street Economics
This morning, the New York Fed’s Center for Microeconomic Data released the 2023:Q3 Quarterly Report on Household Debt and Credit. After only moderate growth in the second quarter, total household debt balances grew $228 billion in the third quarter across all types, especially credit cards and student loans. Credit card balances grew $48 billion this quarter and marked the eighth quarter of consecutive year-over year increases. The $154 billion nominal year-over-year increase in credit car...| Liberty Street Economics
Total household debt balances increased by $16 billion in the second quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. This reflects a modest rise from the first quarter. Credit card balances saw the largest increase of all debt types—$45 billion—and now stand at $1.03 trillion, surpassing $1 trillion in nominal terms for the first time in the series history. After a sharp contraction in the fir...| Liberty Street Economics
The Federal Reserve Bank of New York’s November 2022 SCE Labor Market Survey shows a rise in the average reservation wage—the lowest wage respondents would be willing to accept for a new job—to $73,667, its highest level since the series began in 2014. Respondents’ satisfaction with wage compensation, non-wage benefits, and promotion opportunities at their current job all improved in November compared to July. Regarding expectations, the average expected wage offer (conditional on rec...| Liberty Street Economics
In this post, the authors revisit their analysis on credit cards and examine which borrowers are struggling with their auto loan payments.| Liberty Street Economics