US Consumers’ Delinquency Fears Rise to Highest Level Since 2020
- Americans expect longer job search, New York Fed survey found
- Three-year inflation expectations declined to a series low
The average likelihood that consumers would miss a minimum debt payment in the next three months rose to 13.3%, the highest level since April 2020.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US consumers are increasingly concerned about falling behind on their bills, with delinquency expectations rising to the highest level since the onset of the pandemic.
The average likelihood that consumers would miss a minimum debt payment in the next three months rose to 13.3%, the highest level since April 2020, according to a Federal Reserve Bank of New York survey released Monday. That stress increased the most for people earning less than $50,000 a year and for those with a high school degree or less.