Household Debt Grew Slowly In 2015 As Mortgage Balances Stayed Flat


from Liberty Street Economics

-- this post authored by Meta Brown, Donghoon Lee, Andrew Haughwout, Joelle Scally, and Wilbert van der Klaauw

Last Friday, New York Fed President William Dudley spoke to the press about the growing resilience of the U.S. household sector. His speech was followed by a briefing by New York Fed economists on developments in household borrowing. Their presentation included a detailed decomposition on mortgage borrowing and payment trends, and some new research on how borrowing has evolved differently across age groups. Today, the New York Fed also released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2015. The report, the press briefing , and the following analysis are all based on the New York Fed Consumer Credit Panel, which is itself based on consumer credit data from Equifax.

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What We Read Today 13 February 2016

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Mobile Wallets: Is This The Year?

from the Atlanta Fed

-- this post authored by David Lott

In our 2015 year-end retrospective post, we commented on the slow pace of adoption of mobile payments despite the introduction of several major mobile wallets. While some consumer research continues to point to widespread consumer usage of mobile wallets in the coming years, we have seen similar projections from past research fail to materialize.

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Infographic Of The Day: Remembering What Happened To The Space Shuttle Challenger

NASA's space shuttle Challenger accident was a devastating tragedy that killed seven astronauts and shocked the world on Jan. 28, 1986.

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Video of the Day:

After 100 years of searching, an international team of physicists has confirmed the existence of Einstein's gravitational waves at LIGO on September 14 last year, marking one of the biggest astrophysical discoveries. It's a huge deal, just think of all the breakthroughs that have come to the discovery of x-rays and radio waves it also opens up a whole new way of studying study the Universe.

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The Week Ahead: Market Worries

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The Syria 'Ceasefire' Deal Is No Such Thing - It's Cover For The US And Russia

from The Conversation

-- this post authored by Scott Lucas, University of Birmingham

Headlines are declaring the arrangement of a ceasefire in Syria's conflict. Announced by US secretary of state John Kerry and Russian foreign minister Sergei Lavrov late on February 11, it has been greeted as a ray of hope in the floundering efforts to end this seemingly intractable conflict.

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 USA economy at a glance (boxed items are updates in last 7 days)

First Quarter 2016 Survey of Professional Forecasters Again Lower Growth over the Next Three Years

from the Philadelphia Fed

The economy looks weaker now than it did three months ago, according to 40 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The forecasters predict real GDP will grow at an annual rate of 2.0 percent this quarter and 2.5 percent next quarter.

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