The Wall Street Journal
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Inflation Has Sparked Record Credit-Card Debt: Why Things Could Get Messy
Posted
October 26, 2022
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16,105
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October 26, 2022
16,105
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3:26Now PlayingAmericans today have more credit-card debt than at any time in history, surpassing the total amassed in 2008 during the global financial crisis.
The debt splurge has come as the U.S. personal savings rate has been slashed to about half its long-term average, and right as credit-card rates are on pace to be the highest in history. This could become a serious problem for the U.S. economy. I’ll explain why.
I’m Dion Rabouin, a WSJ reporter covering markets and the economy. I’ll be diving into all things finance, from the popular and well-known — like crypto and stocks — to the complex and intricate — like leveraged loans, derivatives and private equity. Subscribe to join me as I take a deep dive into what’s making money move and why it matters.
#Debt #Inflation #DionRabouin
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