Household Debt at Historic Levels
Aug 22, 2022
According to an August 2, 2022 report by the Federal Reserve Bank of New York, US household debt exceeded $16 trillion for the first time in history during the 2nd quarter of 2022. Although the overall rate of household credit default remains historically low, confirmed by the nationwide historically low rate of bankruptcy filings, revolving credit card debt ballooned by over $46 billion during…