US Economics

US Economics

US Economics Weekly

19 May, 2017

Is rising household debt a concern?

The latest New York Fed report on consumer debt and credit made waves this week with the news that household debt surpassed its 2008 peak in dollar terms in the first quarter. But that is nothing to worry about since nominal incomes have risen by around a third since then, meaning that the overall debt burden has fallen significantly. In addition, interest rates remain significantly lower, meaning that the servicing costs on household debt are easily manageable.

Nonetheless, the report did show

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