On Wednesday, October 18, 2023, the Federal Reserve Bank of New York will release two Liberty Street Economics blog posts looking at the economic and financial health of U.S households. While consumer spending has been strong thus far in 2023, the resumption of student loan payments presents potential risks to vulnerable households. The blogs leverage data from the New York Fed’s Consumer Credit Panel and the Survey of Consumer Expectations (SCE) Household Spending Survey.
Further details on the two blog posts are below:
“An Update on the Health of the U.S. Consumer,” explores the factors behind the strength in real personal consumption expenditures since the pandemic as well as the implications for consumption in the coming quarters.
“Borrower Expectations for the Return of Student Loan Repayment,” analyzes the responses of federal student loan borrowers collected in the August 2023 SCE Household Spending Survey to gauge the expected impact of the student debt payment resumption on future spending growth, and the risk of delinquency for these borrowers.
Press Call on the Blogs:
A deep background press call will take place on Wednesday, October 18 at 8:30 AM EDT to provide further context on the blog. Journalists interested in participating should RSVP to Mariah Measey at Mariah.Measey@ny.frb.org.
