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Rising household debt fuels concern about the U S economy

Total household debt in the U.S. increased by $16 billion, reaching $17.06 trillion in the second quarter of 2023, according to the Federal Reserve Bank of New York. Credit card

United statesNew yorkJoelle scallyFederal reserveFederal reserve bankCredit accessRegional economic principalAccess surveyDomestic productOvernment regulations

Rising household debt fuels concern about the U S economy

Credit card balances exhibited the most significant deterioration in performance among debt categories this quarter, reaching a milestone of $1.03 trillion.

United statesNew yorkJoelle scallyCredit accessFederal reserve bankFederal reserveRegional economic principalAccess surveyDomestic product

Rising Household Debt Fuels Concern About The U S Economy

Total household debt in the U.S. increased by $16 billion, reaching $17.06 trillion in the second quarter of 2023, according to the Federal Reserve Bank of New York. Credit card

New yorkUnited statesJoelle scallyFederal reserve bankFederal reserveCredit accessCard balances hit record highRegional economic principalAccess surveyDomestic productMedia decision

Credit Card Debt Soars To More Than $1 Trillion For The First Time In History

The debt currently sits at 1.03 trillion in the second quarter per new data released from the Federal Reserve Bank of New York.

New yorkUnited statesJoelle scallyFederal reserve bankPublic policy research divisionBureau of labor statisticsLabor statistics

Consumers Erased $170 Billion in debt in Q2, Despite Overall Rise

Households are grappling with $17.06 trillion in Debt in the second half of the year, but managed to pay back $170 billion in the last quarter.

New yorkUnited statesJoelle scallyPublic policy research divisionNew york federal reserveNew york fedRegional economic principal

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