Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt Types

[excalibur]

And producer inflation just came in at 0.5%, which compounded is over 6%.

Joe Biden" I built that'. Or, build back worse.

The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.

The New York Fed also issued an accompanying Liberty Street Economics blog post examining credit card utilization and its relationship with delinquency. The Quarterly Report also includes a one-page summary of key takeaways and their supporting data points.

“In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” said Joelle Scally, Regional Economic Principal within the Household and Public Policy Research Division at the New York Fed. “An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households.”

...​

Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt Types - FEDERAL RESERVE BANK of NEW YORK

www.newyorkfed.org

 

[Doc7505]

And producer inflation just came in at 0.5%, which compounded is over 6%.

Joe Biden" I built that'. Or, build back worse.

​

The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.​

​

The New York Fed also issued an accompanying Liberty Street Economics blog post examining credit card utilization and its relationship with delinquency. The Quarterly Report also includes a one-page summary of key takeaways and their supporting data points.​

​

“In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” said Joelle Scally, Regional Economic Principal within the Household and Public Policy Research Division at the New York Fed. “An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households.”​

​

...​

Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt Types - FEDERAL RESERVE BANK of NEW YORK

www.newyorkfed.org

~~~~~~
I can atest to that emphatically.

 

[justoffal]

And producer inflation just came in at 0.5%, which compounded is over 6%.

Joe Biden" I built that'. Or, build back worse.

​

The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.​

​

The New York Fed also issued an accompanying Liberty Street Economics blog post examining credit card utilization and its relationship with delinquency. The Quarterly Report also includes a one-page summary of key takeaways and their supporting data points.​

​

“In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” said Joelle Scally, Regional Economic Principal within the Household and Public Policy Research Division at the New York Fed. “An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households.”​

​

...​

Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt Types - FEDERAL RESERVE BANK of NEW YORK

www.newyorkfed.org

There's a small group of people doing just fine, a very small group. Probably less than 10%.... That of course would include the DC parasites. Everyone else is watching their money rot right out of their hands before they even get to the store to spend it.

 

[excalibur]

You can have 4 more years of this (and worse) or some mean tweets (which you can easily ignore).

Why would anyone vote for POTATUS Biden and 4 more years of him or the laughing hyena Kamala Harris?

 

[excalibur]

There's a small group of people doing just fine a very small group. Probably less than 10%. That of course would include the DC parasites. Everyone else is watching their money rot right out of their hands before they even get to the store to spend it.

Sure, Biden gave the feckless and overpaid federal bureaucrats a pay increase.

Biden signs order finalizing 5.2% pay raise for feds in 2024

The measure confirms that the federal workforce will see its largest pay increase in more than 40 years.

www.govexec.com

 

[sparky]

well i don't feel delinquent........ ~S~

 

[mamooth]

And producer inflation just came in at 0.5%, which compounded is over 6%.

And therefore, taxes need to be cut on the rich and shifted to the middle class.

That's the Republican plan.

 

[excalibur]

And therefore, taxes need to be cut on the rich and shifted to the middle class.

That's the Republican plan.

​

 

[justoffal]

well i don't feel delinquent........ ~S~

Lol

 

[justoffal]

And therefore, taxes need to be cut on the rich and shifted to the middle class.

That's the Republican plan.

Bad plan....

Better Plan:

Add value back to the dollar unit by eliminating unproductive waste. A good start would be to eliminate payroll taxation and go over to a fully consumption-based tax plan. Yes, yes I know once again rich people will not be paying their fair share.... And it's not a progressive taxation. Oh well.... It's about time we stopped trying to hunt down the ultra wealthy to punish them and concentrate on a system that works.

 

[Harpy Eagle]

The increase mostly stemmed from a jump in mortgage balances, which rose $190 billion from the previous quarter to $12.44 trillion at the end of March.

more people buying houses.

This is a good thing

 

[elektra]

In 1997 health care was free, if you had a job, your employer gave you, me, everyone free healthcare.

Today the employer pays $1200 a month and I pay $1000 a month, this is due to ObamaCare.

 

[elektra]

And therefore, taxes need to be cut on the rich and shifted to the middle class.
That's the Republican plan.

Yet, Donald Trump lowered my middle class tax rate from 34% to 25%

maMOOT, you are a liar.

 

[Harpy Eagle]

There's a small group of people doing just fine, a very small group. Probably less than 10%.... That of course would include the DC parasites. Everyone else is watching their money rot right out of their hands before they even get to the store to spend it.

 

[mamooth]

You can have 4 more years of this (and worse) or some mean tweets

What exactly about mean tweets triggers all you Trump cult losers>?

I've never seen a liberal complain about them, but mean tweets instantly send Trump cult losers into weepy hysterics.

Buck up, Trump cult snowflakes. Voters hate wimps, and you all just cry all day.

Also, if you want to send all your cash to billionaires, you are free to do so. Just stop it with picking our pockets. For god's sake, trump cultists, stop being such parasites.

 

[1srelluc]

Tic-Toc.....DC has fucked-up things so royally I doubt if it can ever be unfucked. I swear it has to be by design.

 

[MarcATL]

What exactly about mean tweets triggers all you Trump cult losers>?

I've never seen a liberal complain about them, but mean tweets instantly send Trump cult losers into weepy hysterics.

Buck up, Trump cult snowflakes. Voters hate wimps, and you all just cry all day.

Also, if you want to send all your cash to billionaires, you are free to do so. Just stop it with picking our pockets. For god's sake, trump cultists, stop being such parasites.

It'd definitely a CULT.

 

[struth]

And therefore, taxes need to be cut on the rich and shifted to the middle class.

That's the Republican plan.

Can you actually provide a link to this plan for us?

 

[struth]

Credit card debt poised to smash another record high​

Household debt likely surged to another new record at the start of 2024​

Credit card debt poised to smash another record high

New York Federal Reserve data released on Tuesday morning is expected to show that American households are carrying a record amount of credit card debt.

www.foxbusiness.com

Americans are just trying to get by during this dark chapter in American history. November can't get here soon enough

 

[Independent thinker]

And producer inflation just came in at 0.5%, which compounded is over 6%.

Joe Biden" I built that'. Or, build back worse.

​

The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.​

​

The New York Fed also issued an accompanying Liberty Street Economics blog post examining credit card utilization and its relationship with delinquency. The Quarterly Report also includes a one-page summary of key takeaways and their supporting data points.​

​

“In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” said Joelle Scally, Regional Economic Principal within the Household and Public Policy Research Division at the New York Fed. “An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households.”​

​

...​

Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt Types - FEDERAL RESERVE BANK of NEW YORK

www.newyorkfed.org

But everything's going just fine!