According to a survey by the Federal Reserve Bank of New York, the share of American consumers who are expected to be in arrears rose last month to the highest level since April 2020. According to the results of the New York Federal Reserve's monthly consumer expectations survey released on Tuesday, the proportion of consumers unable to pay the minimum payment is expected to rise to 14.2% in the next three months, rising for the fourth consecutive month. Middle-aged respondents contributed to the increase in this percentage... These data further confirm the view that the US economy is becoming more and more fragmented, with some families doing well while others are struggling. Stock market gains have helped push overall household net worth to record levels over the past few months, yet many Americans don't hold large amounts of stock, and debt has increased in recent years as interest rates have risen.

According to a survey by the Federal Reserve Bank of New York, the share of American consumers who are expected to be in arrears rose last month to the highest level since April 2020. According to the results of the New York Federal Reserve's monthly consumer expectations survey released on Tuesday, the proportion of consumers unable to pay the minimum payment is expected to rise to 14.2% in the next three months, rising for the fourth consecutive month. Middle-aged respondents contributed to the increase in this percentage... These data further confirm the view that the US economy is becoming more and more fragmented, with some families doing well while others are struggling. Stock market gains have helped push overall household net worth to record levels over the past few months, yet many Americans don't hold large amounts of stock, and debt has increased in recent years as interest rates have risen.