This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact The Epoch Times Reprints.
Delinquency rates are at their highest level since the Great Recession.
A report from the Federal Reserve shows household debt levels have climbed to all-time highs, led by a record jump in credit card debt—and a rise in defaults.
Here’s a look at the impact of the Federal Reserve’s series of interest rate hikes on U.S. household debt.
With Federal Reserve data showing household debt climbing above $17 trillion, the average American household is just over $14,000 away from reaching a “breaking point” at which it will be unable to continue paying off loans, according to a study by WalletHub.
