US Household Debt Reaches Fresh Record High of $18.59 Trillion: New York Fed

Despite concerns of a K-shaped economy, household balance sheets are solid, says one market analyst.

U.S. dollar bills, credit and debit cards in Washington on Oct. 4, 2024. Madalina Vasiliu/The Epoch Times

Americans’ household debt levels, ranging from credit card balances to auto loans, reached a new record high last quarter.

Total household debt in the United States surged by $197 billion in the third quarter to $18.59 trillion, according to the New York Federal Reserve.