New delinquencies have largely stabilized after a big spike a couple of years ago, but lots of people are still carrying around old credit card debt they fell behind on.
The Fed’s balance sheet, mentioned by Jerome Powell this week, tracks what the Fed owns and owes. And the Fed has stopped its buying spree, mostly to reduce its influence on the market.
Recent spending cuts to rural safety net programs have some bracing for financial hardship, in light of what they went through during the Great Recession.