Americans now owe $1.29 trillion on their credit cards, a record, according to the New York Fed.
• Credit card balances rose $22 billion in Q3 to $1.29 trillion
• Total household debt climbed $334 billion to $19.1 trillion
• 5.0% of household debt is now in some stage of delinquency, up 0.3 points
Why it matters: Rising card debt and delinquencies show pressure on US consumers as markets price more Fed hikes.
Source: Federal Reserve Bank of New York
Not financial advice.
💬 Does rising consumer debt change how you read the macro backdrop for crypto?
#Macro #Fed #USEconomy
• Credit card balances rose $22 billion in Q3 to $1.29 trillion
• Total household debt climbed $334 billion to $19.1 trillion
• 5.0% of household debt is now in some stage of delinquency, up 0.3 points
Why it matters: Rising card debt and delinquencies show pressure on US consumers as markets price more Fed hikes.
Source: Federal Reserve Bank of New York
Not financial advice.
💬 Does rising consumer debt change how you read the macro backdrop for crypto?
#Macro #Fed #USEconomy