Geared to a Main Street audience, this e-newsletter will provide a sampling of the latest speeches, research, podcasts, videos, lesson plans and much more. Sign up now to have this emailed to you monthly at no charge.View Publication
How big of an effect does consumer debt have on families and the U.S. economy? Are there tipping points at which that debt changes from helpful to harmful? The Center for Household Financial Stability at the St. Louis Federal Reserve set out to answer these questions at a research roundtable in New York.
Auto and student loans remained the fastest growing consumer debt categories in the second quarter.
The Center for Household Financial Stability at the Federal Reserve Bank of St. Louis sought to answer this question in a newly released issue of In the Balance. The report focuses on the demographics — including age, race and education — of those who become delinquent on loans.
Loan delinquency rates differ sharply from one demographic group to the next. Read the working paper by Center Senior Economist William R. Emmons and Senior Analyst Lowell Ricketts, that outlines structural and systemic factors important to understanding this financial behavior.