Large US household balance sheets pose macro risks
US household balance sheets have surged in size since the 1980s and will stay large, posing several macroeconomic risks
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In this article
- Tracking the expansion
- Outlook for outsized private balance sheets
- Demography
- Productivity growth
- Distribution of income and wealth
- Public sector borrowing
- Macroeconomic risks
- Economic volatility
- Diminished ability to meet return targets
- Household over-leveraging
- Limits on the efficacy of monetary policy
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