Americans have never been in so much debt…

Sharing is Caring!

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.

See also  BTC is up nearly 40% since Jim Cramer said to get out 14 days ago. Inverse Cramer never fails.

See also  Biden’s big government is getting bigger and reaching further into Americans’ lives

Views: 5

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.