As inflation and steep interest rates persist, Americans are accumulating more credit card debt, with the New York Federal Reserve Bank’s Quarterly Report on Household Debt and Credit expected to reveal a new record exceeding $1.08 trillion. Despite Fed Chair Powell’s assurance that another real estate-led banking crisis akin to 2008 is unlikely, he anticipates potential closures or mergers among smaller banks. The delinquency rate for Chicago office loans is currently at 14.63%, reflecting the most restrictive monetary policy since the 1970s and 1980s, as the Fed tightens standards for all loans, particularly in Commercial Real Estate.
https://www.foxbusiness.com/economy/credit-card-debt-poised-hit-new-record-high
Fed Chair Powell says it’s unlikely we’ll see another real estate-led banking crisis, like in 2008. But he predicts some smaller banks might close or merge out of existence. pic.twitter.com/qLUwAV5uxx
— Win Smart, CFA (@WinfieldSmart) February 5, 2024
The delinquency rate for Chicago office loans is currently at 14.63%, per Trepp
— MacroEdge (@MacroEdgeRes) February 5, 2024
This is the most restrictive monetary policy since the 1970s and 1980s pic.twitter.com/ZdrV24lHtt
— Bravos Research (@bravosresearch) February 5, 2024
⚠️ Fed's SLOOS Reveals: Tightening Standards Across the Board for ALL Loans
– Over Q4, significant net shares of banks report stricter standards.
– Commercial Real Estate loans face increased scrutiny and tightening measures. pic.twitter.com/pOiKWzgIDd
— The Coastal Journal (@1CoastalJournal) February 5, 2024