Reported 2 months ago
A recent Fed report reveals that U.S. household credit card debt has surged to a record $1.14 trillion, marking a 2.4% increase in the second quarter of 2024. This trend, driven by high inflation and interest rates, sees many consumers, especially those aged 30 to 39, carrying debt longer, with delinquency rates rising. Despite overall consumer health being deemed stable, the increasing debt levels raise concerns about future financial challenges.
Source: YAHOO