06/01/2023
RL Pro Exclusive
Consumer research snapshot: Americans far from reaching the debt ceiling
The Federal Reserve Bank of New York’s latest Quarterly Report on Household Debt and Credit showed U.S. consumers’ credit card debt had not seen its usual post-holiday-season dip in the first quarter, while total consumer debt had for the first time surpassed $17 trillion. In turn, shoppers are showing signs of financial stress amid high inflation and rising interest rates.
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