U.S. Household Debt Delinquencies Reach Multi-Decade Highs as Inflation Erodes Purchasing Power

PravdaReport ·
Russia

U.S. household debt delinquencies are climbing to multi-decade highs as inflation erodes purchasing power, according to data from the Federal Reserve Bank of New York. The share of seriously delinquent auto loan balances has reached a record high this year. Credit card balances that are seriously past due now stand at nearly 13%, a level close to the peak seen in 2010 following the housing…

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