Federal Reserve Holds Interest Rates Steady

U.S. subprime consumers are increasingly falling behind on their auto loan payments, according to Bloomberg. In September, 6.11% of subprime auto borrowers were 60 days past-due, the highest percentage since 1994, according to Fitch Ratings. Higher car prices and interest rates are increasingly squeezing subprime borrowers, which may portend stress among other borrowers as well.