Federal Reserve Bank

Household Debt Decrease Reflects Pandemic-Related Spending Decline

Total household debt decreased for the first time since 2014 in Q2, including the steepest decline in credit card balances seen in the history of the data. In its Quarterly Report on Household Debt and Credit, The Federal Reserve Bank of New York’s Center for Microeconomic Data showed total household debt decreased by $34 billion (0.2%) … The post Household Debt …

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