The popular narrative is that households have done a good job of repairing their balance sheets since the Great Recession by paying down debt during the current economic expansion.
But is that really true?
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on June 22.
- According to a Federal Reserve report, nominal household debt hit a record high $15.3 trillion in the first quarter of 2018.
- This additional debt has helped support the second longest economic expansion in history.
- Household debt as a share of disposable income has mostly been declining since hitting a high of 133.7% since the fourth quarter of 2007.
- Household debt levels remain quite different by state.
Read More ›
Robust real GDP growth above 4% is expected in the second quarter of this year, driven by a sharp rebound in real consumer spending.Read More ›
For now the Fed is throwing caution to the wind and is pressing ahead with steady rate hikes this year, despite growing downside risks from trade.Read More ›
The current economic expansion turned nine years old this month.Read More ›
California’s job creation continues to outperform the nation, but job growth has slowed as more metro areas exceed full employment.Read More ›