New York (CNN Business)American households are carrying record amounts of debt as home and auto prices surge, Covid infections continue to fall and people get out their credit cards again.
Between July and September, US household debt climbed to a new record of $15.24 trillion, the Federal Reserve Bank of New York said Tuesday.
It was an increase of 1.9%, or $286 billion, from the second quarter of the year.
“As pandemic relief efforts wind down, we are beginning to see the reversal of some of the credit card balance trends seen during the pandemic,” such as lower spending in favor of paying down debt balances, said Donghoon Lee, research officer at the New York Fed.
www.cnn.com/2021/11/09/economy/fed-household-debt-inflation/index.html
- We are Witnessing the Tide Turning on the Covid Vax Narrative
- Probably doesn’t understand the weight of her words.. “Germany declares war on Russia”
- Reuters Fact-Checkers Lie About Vax Regret Article
- The Coming Great Global Default
- This is the #1 Reason the Fed Will Be Forced to Crash the Markets Soon
- THE END OF THE CATHOLIC CHURCH
- Here We Go Again – Altering the Formula for CPI
- Russia Readies Its “Poseidon” Doomsday Weapon As The World Stumbles To The Brink Of Nuclear Conflict
- Something odd is happening when you Google Search for “Pfizer Project Veritas”
- People Blame Bill Gates for Egg Shortage as Authorities Fight Egg Smugglers
Views: 5