Journal Article

Consumer Debt Is High, but Consumers Seem to Have Room to Run

Abstract: Real consumer debt is now higher than its prior peak during the global financial crisis, driven in part by increases in credit card debt. Although the share of credit card debt transitioning into delinquency has risen, it remains below levels seen during the global financial crisis. Moreover, debt-to-income measures remain historically low, suggesting that consumers in aggregate may have more room to run up debt before experiencing further financial stress.

Keywords: consumer debt; credit card debt; labor market;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2024-05-17

Pages: 3