
Most official data continues to show the U.S. economy is humming along, with unemployment historically low and inflation expectations still relatively stable. Limited time: Save 25% on NBC News subscription Get exclusive reporting, live Q&As and ad-free reading.
Main Idea: U.S. growth is being driven more by wealthier consumers, while rising credit card delinquencies show growing stress for lower-income households, according to Federal Reserve Bank of New York data.
Key Points:
More families may fall behind on credit cards and other debts as high prices and high rates strain budgets, which can hurt workers, shoppers, and small businesses.
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Named economist whose warnings about concentrated spending and consumer vulnerability are quoted as central analysis.
Senior director at FICO quoted to explain rising defaults and reliance on credit cards.
Senior adviser at Equifax quoted providing a cautious read on consumer spending and delinquencies.
Named credit-reporting firm whose adviser is quoted on slowing delinquency growth.
Employer of Mark Zandi and cited source for the article’s economic interpretation.
Mentioned as a spending option even for higher-income households, illustrating changing consumer behavior.
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