RAB Research Archive

Americans are piling up credit card debt as they struggle to keep up with the high cost of living



Americans are piling up credit card debt as they struggle to keep up with the high cost of living. U.S. household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said. Even as borrowing costs surge, the NY Fed said credit card balances increased by $46 billion last quarter.

Source: CNN



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