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Credit card debt has declined by a substantial amount. Here's what you need to know.

   FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email. Name: posted on 13 May 2021 from the New York Fed The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows that total household debt incr...

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5/12/2021 11:37:00 AM The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows that total household debt increased by $85 billion (0.6%) to $14.64 trillion in the first quarter of 2021. The total debt balance is now $344 billion higher than the year prior. While mortgage, auto loan, and student loan balances have continued to increase, credit card balances have substantially decreased. The Report is based on data from the New York Fed's Consumer Credit Panel, a nationally representative random sample ...

Investors have again latched on to concerns about inflation after putting their fears on hold last week when the US jobs data proved to be such a disappointment. Tech stocks led the steep downward spiral.  So what changed in the course of less than a week, bringing the inflation narrative back into play? Concerns are centred on commodity prices continuing their upward march and the supply constraints that are materialising. Under the spotlight is the acute global shortage of semiconductor chips that is wreaking havoc on automakers and producers of goods as far and wide as dishwashers and ele...