Household debt report includes worrisome data
February 17, 2023
U.S. household debt rose by $394 billion in the fourth quarter of 2022, the largest quarterly increase in 20 years, according to data released by the Federal Reserve Bank of New York. Credit card debt had its biggest jump since figures began being tracked by the Fed in 1999. Loan delinquencies also picked up, leading economists to caution that bigger problems may lie ahead when student loan payments resume later this year.
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