The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
The Quarterly Report on Household Debt and Credit takes advantage of the FRBNY Consumer Credit Panel, a unique longitudinal data set, to capture trends in borrowing and indebtedness of U.S. consumers. Reports are available from 2010 through the present.
The latest Quarterly Report on Household Debt and Credit showed the first substantial increase in outstanding balances since 2008, when Americans began reducing their debts. The bloggers shed light on the report’s findings.
By Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw, Liberty Street Economics, November 14, 2013
The bloggers describe the New York Fed’s 2Q13 Quarterly Report on Household Debt and Credit as well as provide additional analysis on auto loans, whose balances have increased with the economic recovery.
By Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw, Liberty Street Economics, August 14, 2013
While highly skilled young workers have provided a vital influx of new, affluent consumers to U.S. housing and auto markets, unprecedented student debt may dampen their influence in today’s marketplace.
By Meta Brown and Sydnee Caldwell, Liberty Street Economics, April 17, 2013