The skyrocketing credit card balance has coincided with an increase in the interest rates paid on such debt, crunching household budgets as high inflation eats away at the savings that many amassed during the pandemic.
Overall, total household debt increased over the last three months of 2022, jumping 2.4% to nearly $17 trillion, the New York Fed found.
The record credit card debt sounds an alarm about the health of U.S. borrowers despite a booming job market that boasts the lowest unemployment rate in more than 50 years, Wilbert van der Klaauw, an economic research adviser at the New York Fed,"Although historically low unemployment has kept consumer's financial footing generally strong, stubbornly high prices and climbing interest rates may be testing some borrowers' ability to repay their debts," van der Klaauw said.
The average credit card user carried a balance of $5,805 over the last three months of 2022, research firmAn employee restocks meat at a grocery store, Jan. 17, 2023, in North Miami, Fla.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
'Total BS': Fox News hosts didn't believe 2020 election fraud claims, court filing showsIn mid-November 2020, host Tucker Carlson texted one of his producers that 'there wasn't enough fraud to change the outcome' of the election.
Weiterlesen »
'Total BS': Fox News hosts didn't believe 2020 election fraud claims, court filing showsIn mid-November 2020, host Tucker Carlson texted one of his producers that 'there wasn't enough fraud to change the outcome' of the election.
Weiterlesen »
Fox News knew Trump's voter fraud claims were 'total BS,' Dominion says“Do the executives understand how much credibility and trust we’ve lost with our audience?” a text by Tucker Carlson read. “We’re playing with fire, for real....an alternative like Newsmax could be devastating to us.”
Weiterlesen »
Immortal Empires Available For All Total War: Warhammer III OwnersTotalWar: Warhammer3 has a new campaign mode available for all players, as you can now dive into Immortal Empires. Warhammer SEGA CreativeAssembly
Weiterlesen »
Fox knew vote rigging claims were false, Dominion says, as network defends coverage(Reuters) -Fox News repeatedly broadcast lies about vote-rigging claims that it knew were “total bs,” Dominion Voting Systems said in a filing made public on Thursday, as part of the election technology company's $1.6 billion defamation lawsuit. 'From the top down, Fox knew 'the dominion stuff' was 'total bs,'' Dominion wrote, citing a sealed exhibit. The filing seeks summary judgment, a court ruling in its favor without the need for a trial.
Weiterlesen »