Restarting student loan payments will squeeze some consumers already feeling the pinch, warns Moody's chief economist
Restarting student loan payments at the end of summer will force some consumers already feeling the pinch to rein in their spending and weigh on the overall economy, the chief economist of Moody's Analytics warned.
"In a more typical time, that's not really that big a deal. The economy can digest that gracefully. But in the current environment with the economy as weak as it is, recession risks as high as they are, a couple of tenths of a percent can matter," Zandi told CNBC. Student loan-related obligations have been paused since the start of the pandemic but the moratorium is set to end soon following the tentative debt ceiling deal.
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