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Surging US Credit Card Debt and High Rates Are a Risky Combination | Presented by CME Group
Posted
March 25, 2024
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1,151
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18
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March 25, 2024
1,151
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0:51Now PlayingAre historically high interest rates and record levels of credit card debt creating a potentially bad recipe for the US economy? Buoyant consumer confidence, a strong jobs market and rising wages underpinned a bumper year for retail sales in 2023 but the big spend coincided with a less auspicious milestone, as US credit card debt touched an alltime high of $1.13 trillion in December. That figure would be worrisome by itself, but the current 22year high in interest rates means that, for many consumers, conquering the debt mountain may be an impossible task. Presented by @cmegroup
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