In the fourth quarter of 2016, auto debt grew more slowly but subprime delinquencies on car loans rose.
Even without bad choices or bad luck, younger, less educated or nonwhite families are more likely to be delinquent on loans.
The upward trend in per capita consumer debt slowed in the third quarter of 2016.
Following the two latest recessions, the growth in high-paying jobs was stronger, on a percentage basis, than was the growth in low-paying jobs. The opposite happened after the previous two recessions.
Household wealth reached a new high in 2016. Recessions followed two previous record highs. Might it happen again?
Conventional wisdom says that employment at small firms declines more than employment at large firms during recessions. However, that doesn’t seem to have been the case during the Great Recession of 2007-09.
Auto and student loans remained the fastest growing consumer debt categories in the second quarter, a Center for Household Financial Stability report states.
Not only are nations wrestling with growing debt levels, but so are state and local governments, including those in the seven states that make up the Eighth Federal Reserve District. Two of those seven states—Kentucky and Illinois—each have combined state and local obligations that, as a percentage of gross state product, are higher than California's.
Quantitative easing has led to the largest expansion of the Fed’s balance sheet since WW II. While this, naturally, leads to concern about inflation, the Fed has the tools to unwind the balance sheet once the economy builds steam.
Although U.S. income inequality is high, income inequality in America is not as dire as that between developed and developing nations.
Family wealth generally increases with education. But new research shows that race and ethnicity can greatly affect the relative payoff. There’s a gap—sometimes wide—between the wealth of Hispanics and African-Americans and the wealth of whites and Asians at every education level, from those with only a high school diploma to those with an advanced degree.