The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support
to international institutions.
The New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes
sound financial and economic decisions through community development and education programs.
Q4 Report: Total household debt increased by $193 billion, or 1.5 percent, to reach $13.15 trillion in the fourth quarter of 2017—marking a fifth consecutive year of annual growth in total household debt. Mortgages are the largest form of household debt and their increase of $139 billion was the most substantial rise in several quarters.
Expectations for household finances and credit availability showed continued improvement in January, with consumers still seeing robust earnings growth in the year ahead. The share of respondents who anticipate an improvement in their household financial situation over the next twelve months reached a series high, as did the share expecting an easing of credit availability.
November survey results show an increase in the rate at which workers transition to a different employer, a rise in the average full-time wage offer, and an increase in workers’ satisfaction with promotion opportunities at their current job.