VantageScore President and CEO Silvio Tavares recently joined Yahoo! Finance to discuss the latest insights from VantageScore’s June 2024 CreditGauge.

Overall, the economy is still quite healthy. The Fed has to look at the overall picture, and what you’re seeing is more consumers having improved economic circumstances than the other way around,” said Tavares.

VantageScore’s June 2024 CreditGauge analysis found that originations were up across all products as banks extended credit to more consumers across credit tiers and high delinquency rates persisted across all Days Past Due (DPD) categories, indicating consumers continued to be under stress.

Tavares added, “Now, the segment that’s clearly hurting is younger, less affluent consumers. Those folks that don’t own a home. They’re seeing the pain. But the reality is the Fed has a blunt instrument which is interest rates, and they need to change that based on what’s best for the biggest portion of Americans. And the fact is, most Americans are doing quite well heading into the second half of the year.

View VantageScore’s June 2024 CreditGauge insights here: https://www.vantagescore.com/lenders/credit-gauge/

Watch the full interview: