Federal Reserve Bank of New York

The average American earns $45,000 annually but carries $63,000 in debt, with $1.40 owed for every dollar earned. A ConsumerAffairs analysis highlights widespread financial strain, including high delinquency rates in Louisiana (mortgage), Nevada (credit card), and Mississippi (overall payments).

The average American earns $45,000 annually but carries $63,000 in debt, resulting in $1.40 owed for every dollar earned. A ConsumerAffairs analysis highlights widespread financial strain, with states like Louisiana, Nevada, and Mississippi showing high rates of mortgage, credit card, and payment delinquencies.

The average American earns $45,000 annually but carries $63,000 in debt, resulting in a $1.40 debt per dollar earned. A ConsumerAffairs analysis highlights financial strain, with Louisiana, Nevada, and Mississippi showing high delinquency rates for mortgages, credit cards, and overall debt, respectively.

Outstanding auto loan debt in the US has increased by 57.3% over the past decade, reaching nearly $1.7 trillion, according to the Federal Reserve Bank of New York. The rise highlights ongoing affordability challenges for car payments.

Gen Z graduates are blaming AI for their unemployment, but economist Torsten Slok argues factors like Fed tightening, trade-war uncertainty, and slowing immigration are more significant. Unemployment for recent graduates remains at 5.6%, higher than the 4.2% rate for all workers, with the gap emerging before ChatGPT's release. Companies' mixed messaging on AI is fueling Gen Z's job insecurity.

Credit card delinquencies are at a 15-year high, driven by rising gas prices and other costs. Credit counselors advise debtors to audit their finances and use strategies like the avalanche or snowball methods to pay down debt, or seek nonprofit counseling if needed.

Recent college graduates are struggling in a competitive job market, with the Class of 2025 submitting more applications but receiving fewer offers compared to the previous year. The unemployment rate for recent graduates is 5.6%, higher than the national average, as economic uncertainty and artificial intelligence reshape the workforce. Experts advise expanding networks and gaining diverse skills to improve job prospects.

Remote work, normalized during the COVID-19 pandemic, may be negatively impacting job opportunities for young college graduates, according to a Federal Reserve Bank of New York analysis. The study's findings are discussed by New York Times reporter Jodi Kantor.

Research from the Federal Reserve Bank of New York finds remote work has increased unemployment for younger college graduates post-pandemic, with a 20% rise in unemployment for those under 29, while older graduates saw slight declines. Companies are less likely to hire recent graduates for remote roles, citing challenges in mentorship and feedback, and a Fortune 500 tech company shifted hiring toward older workers during remote work adoption.

A study by the Federal Reserve Bank of New York found that the rise of remote work since the pandemic has increased unemployment rates for young college graduates in 'remotable' jobs, such as software development, compared to older workers. The study attributes this to businesses' reluctance to hire inexperienced workers for remote roles due to challenges in training and mentoring, with remote work accounting for two-thirds of the rise in youth unemployment. AI's impact on youth unemployment was found to be minimal.

A study by the Federal Reserve Bank of New York found that remote work, not AI, is a key driver of higher unemployment rates for young college graduates. Businesses are less likely to hire inexperienced workers for remote jobs due to challenges in training and mentorship, leading to a 1 percentage point increase in unemployment for young graduates in 'remotable' occupations since 2017-2019.

A study by the Federal Reserve Bank of New York found that remote work, not AI, is the primary driver of higher unemployment rates for young college graduates. Businesses are less likely to hire inexperienced workers for remote roles due to challenges in training and mentoring them, while older workers in these roles face lower unemployment. The study also noted minimal impact of AI on youth unemployment.

The expansion of remote work may explain the recent surge in youth unemployment, according to research by the Federal Reserve Bank of New York. The study suggests a link between remote work and worsening youth unemployment rates.

Federal Reserve Bank of New York President John Williams expressed uncertainty about how a productivity boom might influence interest rates, highlighting the Federal Reserve's cautious approach to economic developments.

A new survey by the Federal Reserve Bank of New York reveals that food insecurity is affecting more families now than during the height of the coronavirus pandemic, indicating a worsening situation compared to the pandemic's peak.

The Federal Reserve Bank of New York reports a significant rise in food insecurity among American households since 2020, particularly affecting lower-educated, lower-income, and households with young children due to economic strains.

Low-income households in the U.S. are experiencing a significant rise in food insecurity, driven by a K-shaped economy. The Federal Reserve Bank of New York attributes this trend to growing economic disparities, with many Americans feeling worse off due to the crisis.

A 2025 Stanford study and 2026 Anthropic report reveal a 16% relative decline in employment for 22–25-year-olds in AI-exposed entry-level roles, while more experienced workers and low-AI-exposure jobs remain unaffected. The article urges reforms in education, government incentives, and corporate training to address AI's impact on early-career opportunities.

Roberto Perli spoke at the NABE economic policy conference about adjusting T-Bill purchases. The event was held in Dallas, Texas, and focused on adapting to a new global paradigm. Perli is the manager of the System Open Market Account for the Federal Reserve Bank of New York.

Long Island Rail Road workers are on strike after rejecting a 9.5% wage offer, affecting hundreds of thousands of commuters and costing the region an estimated $61 million per day. The striking employees already earn six-figure salaries, with an average income of $121,646 plus $25,957 in overtime pay. The strike is over a dispute about compensation for the rising cost of living in the New York metropolitan area.

AI is disrupting employment at both high and low skill levels, with McKinsey cutting partner compensation and Jumia laying off 10% of staff. However, experts suggest fears of mass job displacement may be exaggerated, as a New York Fed survey indicates firms plan to primarily retrain workers rather than cut hiring significantly.

Americans collectively owe $1.25 trillion on their credit cards, according to a new report by the Federal Reserve Bank of New York, showing a 'K-shaped' pattern in credit card debt. The total credit card debt has dipped to $1.25 trillion. This pattern indicates uneven economic recovery.

US household debt delinquencies remained flat in the first quarter, indicating no significant change in debt repayment issues. This stability suggests that households are managing their debt relatively well. The flat delinquency rate may have implications for the overall economy.

Federal Reserve Bank of New York President John Williams believes interest rates are well positioned amid uncertainty caused by the Iran war. The statement comes as global markets face increased volatility due to geopolitical tensions. Williams' view suggests the Fed is prepared to handle economic challenges.

John Williams, president of the Federal Reserve Bank of New York, stated that interest rates are well-positioned despite uncertainty from the war in Iran, and his outlook for US price pressures remains largely unchanged. He expects higher energy costs to boost overall inflation. The statement was made during a Bloomberg Television interview.

The Federal Reserve Bank of New York confirms the existence of a K-shaped economy, where high-income households drive spending growth due to wealth gains from financial assets, while low-income households struggle with inflation. The divergence in spending patterns since 2023 highlights economic fragility and risks linked to market corrections.

The New York Federal Reserve Bank's survey shows rising inflation expectations in the U.S. due to the Iran war, with median one-year inflation forecasts reaching 3.4%. However, longer-term expectations remain stable, indicating a potential short-lived inflation surge rather than sustained high inflation.