Today's topics include Miran to gain a second job & fill Kugler's seat on FOMC, is Waller still a top pick?, stock market concentration, U.S. vs international stocks, taking a hands-on approach to domestic multinational companies, tariff income, more on BLS data, and tokenization timeline
Household debt in the U.S. stood at $18.39 trillion in the second quarter.
Credit utilization has returned to pre-pandemic levels.
People under 30 and over 70 hold a relatively small amount of debt compared to other age groups.
The average third party collection stood at $1581 in the second quarter.
Household debt broken down by delinquency status
Credit card and mortgage debt are both at least 33% higher than pre-pandemic.
Mortgage originations remain well off the peak set in 2021.
Some interesting charts from our recent posts
Long-term growth of an economy comes down to the labor force, capital investments, and productivity. With a shrinking labor force, can the coming wave of AI innovation meaningfully increase long-term potential GDP growth?
Today's topics include talkin' about the proper level for interest rates & the labor market, Fed officials ready to join the rate-cutting camp?, more detail on the possibility of an interim Fed governor, updating the candidates' odds for next FOMC chair, tariffs take effect, who will pay for these tariffs?, ranking the risks to bond returns, T-bill issuance continues to rise, and student loan delinquencies