Byusnewsr1-

Nov 16, 2022

Household debt jumps most since 2008, even as credit-card rates surge

Household debt jumps most since 2008, even as credit-card rates surge

By Alex Tanzi and Jonnelle Marte | Bloomberg
US household debt climbed at the fastest annual pace since 2008 in the third quarter, with credit-card balances surging even as the interest rates that lenders charge to consumers hit a multi-decade high.
Households added $351 billion in overall debt last quarter, taking the total to $16.5 trillion, according to data released by the Federal Reserve…

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