Economic Insights — Thanks to an aging population, continuously falling interest rates, and the Great Recession, more debt is held by older Americans today than ever before.
More Americans are older, and they respond differently to changes in wealth and income. As a result, household debt has grayed significantly over the last several decades. This graying of debt creates financial risks for older households. It also has important implications for policymakers.
This article appeared in the First Quarter 2021 edition of Economic Insights. Download and read the full issue.
