Americans’ household debt surpassed a historic $17 trillion for the first time ever, the Federal Reserve Bank of New York reported (pdf) May 15.
Total consumer debt in the United States hit $17.5 trillion in the first quarter of 2023, an increase of $148 billion, or 0.9 percent from the fourth quarter of 2022. That debt load has spiked by $2.9 trillion since the end of 2019.
