US Household Debt Inches Closer to Record $18 Trillion in 3rd Quarter: New York Fed

‘Elevated balance levels continue to reveal stress for many households,’ regional Fed economists say.

This illustration picture shows debit and credit cards arranged on a desk in Arlington, Va. on April 6, 2020. Olivier Douliery/AFP via Getty Images

New Federal Reserve Bank of New York data show that total U.S. household debt inched closer to $18 trillion in the third quarter, with delinquency rates remaining elevated.

According to the New York Fed’s Household Debt and Credit Report for the July to September period, household debt increased by $147 billion to $17.94 trillion.