More of the same from the Fed Flow of Funds report (.pdf): Households cut their debt in the...

|By:, SA News Editor

More of the same from the Fed Flow of Funds report (.pdf): Households cut their debt in the first quarter for the eighth quarter in a row, raising net worth at an annualized 8% to $54.6T - still down $11.4T from an early-2007 peak. Total debt rose 3.5%. Mortgage debt fell a record 3.8%.