Tag: Federal Reserve Bank of New York

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Americans Collectively Owe a Staggering $1.13 trillion on their Credit Cards

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the staff of the Ridgewood blog

Ridgewood NJ, according to a recent report on household debt by the Federal Reserve Bank of New York, Americans collectively owe a staggering $1.13 trillion on their credit cards. This figure saw a notable increase of $50 billion, or approximately 5%, in the fourth quarter of 2023. Alarmingly, credit card delinquency rates also witnessed a surge, especially among younger millennials aged between 30 and 39, who are grappling with substantial student loan debt burdens.

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Federal Reserve Consumer Credit Delinquency Rates Increased the Sharpest for Millennials aged 30-39

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the staff of the Ridgewood blog

Ridgewood NJ, the Federal Reserve released the latest data on consumer credit . Consumer credit increased at a seasonally adjusted annual rate of 0.4 percent during the third quarter. Revolving credit increased at an annual rate of 8.6 percent, while nonrevolving credit decreased at an annual rate of 2.4 percent. In September, consumer credit increased at an annual rate of 2.2 percent.

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Ridgewood High School Takes Third in the Fed Challenge

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April 28,2016

the syaff of the Ridgewood blog
Ridgewood NJ, The RHS Federal Challenge team took Third place in the final round of the competition that is run by the Federal Reserve Bank of New York on behalf of the United States Federal Reserve system. The competition asks groups of high school students to research the domestic/global economy, develop a mathematical model for forecasting the domestic economy, present their research to a panel of high-ranking economists working at the FRBNY, and answer complex questions about both the team’s research and the economy.