
Survey: Consumers worried about continued Fed rate hikes
The cost of existing credit card debt continues to rise as the Federal Reserve has increased interest rates this year—so far, by $4.9 billion, according to a recent WalletHub survey.
The cost of existing credit card debt continues to rise as the Federal Reserve has increased interest rates this year—so far, by $4.9 billion, according to a recent WalletHub survey.
Americans’ expectations for how much more they will spend in the next year increased sharply to 9% in May from 8% the month earlier. It is the fifth consecutive increase and a new high, according to the Federal Reserve Bank of New York.
Total household debt increased by 1.7% to $15.84 trillion in the first quarter of this year, the Federal Reserve Bank of New York reported.
Total household debt increased 2.2% in the fourth quarter of 2021, rising by $333 billion to land at $15.58 trillion, the Federal Reserve Bank of New York reported today.
Total household debt increased 1.9% in the third quarter of 2021, rising by $286 billion to land at $15.24 trillion, the Federal Reserve Bank of New York reported today.
Total household debt increased 2.1% in the second quarter of 2021, rising by $313 billion to land at $14.96 trillion, the Federal Reserve Bank of New York reported today.
Outstanding household debt increased 0.6% in the first quarter of 2021, rising by $85 billion to land at $14.64 trillion, the Federal Reserve Bank of New York reported today.
Outstanding household debt rose by 1.4% in the fourth quarter of 2020, rising by $206 billion to land at $14.56 trillion, the Federal Reserve Bank of New York reported today.
The share of household debt to disposable income remained well below the historical average in the third quarter of 2020, despite debt inching up 0.56% and disposable income declining 3.3% as federal stimulus payments tapered off.
Household debt rose by 0.6% in the third quarter of 2020, rising by $87 billion to land at $14.35 trillion, the Federal Reserve Bank of New York reported today.