Photo: New York Fed
Today the NY Fed released its quarterly report on consumer credit, and in it is a wealth of charts on the nature of consumer debt.The charts did contain a red flag: For the first time since the recovery began, there were clear signs that in Q3, consumers started falling behind on paying their debts following several quarter of improvement.
It’s not across all categories, and it’s not necessarily even dramatic in some cases, but it is notable for the reversal in the pattern.
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