NY Fed: U.S. debt delinquency hits four

According to the latest monthly consumer expectations survey released by the New York Fed,Exchange rate USD to RMB the probability that U.S. households will be unable to pay the minimum debt over the next three months rose to 14.2% in September. This marks the fourth consecutive month of increase, reaching the highest level since the early pandemic in 2020. This trend is mainly driven by middle-aged respondents, reflecting a polarization of household financial conditions. Some households have increased their wealth due to a rise in the stock market, while others are financially strained due to rising interest rates and debt accumulation.

The survey also revealed U.S. consumers' expectations for future inflation. The data shows that the inflation rate is expected to be 3% in one year, and inflation expectations have increased to 2.7% and 2.9% for three and five years, respectively. Respondents with a high school diploma are most notably concerned about future inflation. While overall inflation expectations remain relatively stable, they still show an upward trend.

In terms of commodity price expectations, food prices are expected to rise to 4.5%, college tuition remains unchanged at 5.9%, while expectations for gasoline, medical expenses, and rent have decreased. Meanwhile, consumer confidence in the labor market remains relatively optimistic. The expected unemployment rate has dropped to 36.2%, and respondents believe the likelihood of finding a new job has slightly increased.

From a macroeconomic perspective, these data indicate that the debt pressure on U.S. households and rising inflation expectations may pose risks to economic recovery, especially with interest rates remaining high. Although some households benefit from rising assets, others face greater financial pressure due to rising debt and living costs, which could exacerbate economic uncertainty in the United States.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.