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.
June Survey: The share of respondents who applied for credit over the past twelve months rose from 39.9 percent to 43.6 percent—the highest such reading since the start of the SCE Credit Access Survey in October 2013. The rise in application rates was broad-based but especially large for respondents aged 40 and younger.
June Survey: Median expectations for inflation at the three-year horizon rebounded to 2.8 percent in June from 2.5 percent in May, largely reversing the recent drop. The outlook for inflation expectations at the one-year horizon decreased slightly to 2.5 percent from 2.6 percent over the month.
Q1 Statistic: Aggregate household debt balances increased by $149 billion in the first quarter of this year to reach $12.73 trillion. This eleventh consecutive quarterly rise pushed total household debt above the prior peak of $12.68 trillion set in the third quarter of 2008.