Join Moody’s Analytics Scott Hoyt and David Fieldhouse as they discuss the current and anticipated trends in household credit conditions based on data from Equifax.
Key topics include:
• Atypical consumer spending patterns
• Excessive saving
• 2021 Consumer Credit Market Outlook
Borrowing from the Federal Reserve's emergency facility put in place after the failure of Silicon Valley Bank, the Bank Term Funding Program, has risen sharply since late November.
October's PCE deflator showed that the Federal Reserve is on track to bring inflation to its 2% target in the near term.
The economy's recent performance has consistently exceeded the prior expectations of many who expected a recession by now, and the outsized growth reported for the third quarter—4.9% at a seasonally adjusted annual rate—only adds to that.
Driving to Default in Unaffordable Used Cars
The Federal Open Market Committee, at its September meeting, decided to leave rates unchanged.
U.S. retail sales continue to grow at a modest pace that is barely keeping up with inflation.
U.S. growth has been trending lower and decelerated more than anticipated in the first quarter of 2023, to 1.1% at an annualized rate in Thursday's GDP report from the BEA.
March's Federal Open Market Committee meeting was as highly anticipated as any in recent memory.
Balances and delinquencies will rise quickly for all borrowers.
U.S. inflation is moderating, but the consumer price index underscores that the disinflationary process will be a bumpy ride.