Economy

Americans Amass Record $1 Trillion in Credit Card Debt

Americans 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.
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Americans Amass Record $1 Trillion in Credit Card Debt
Olivier Douliery/AFP via Getty Images
Catherine Yang
|Updated:
0:00
The 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.
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Catherine Yang
Catherine Yang
Author
Catherine Yang has been with The Epoch Times in New York since 2008. She also launched and previously served as chief editor of American Essence magazine and Epoch Health.
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