EconomyAmericans Amass Record $1 Trillion in Credit Card DebtAmericans are struggling under a record $1 trillion in credit card debt, a recent report by the Federal Reserve Bank shows. Meanwhile, credit card interest rates are at historic highs.SavePrintOlivier Douliery/AFP via Getty ImagesCatherine Yang8/7/2023|Updated: 8/7/20230:00X 1The Federal Reserve Bank of St. Louis reported Friday that Americans now owe $1 trillion in credit card debt, a historic and troubling record.The number comes as some credit card interest rates have hit their highest level in 40 years.Share this articleLeave a commentCatherine YangAuthorCatherine Yang is a reporter for The Epoch Times based in New York. Author’s Selected ArticlesChinese Woman Gets 15 Years for Role in Conspiracy to Import Drugs to USAug 22, 2025As CCP Cybersabotage Escalates, US Changes PostureAug 13, 2025From Poverty to Real Estate, a US Marine’s Journey to Civic Engagement: ‘It’s All About Character’Aug 11, 2025American AI Companies Open Up to Counter ChinaAug 08, 2025Related TopicsFederal Reservedebtstudent loansCredit Cardsmortgage debtFederal Reserve Bank of St. Louis