Borrowers Squeezed with Rising Household Debt, According to Fed Report

U.S. household debt continues to rise, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit for Q1 2024. Household debt balances grew by $184 billion from the previous quarter, with housing and auto debt continuing to grow by $206 billion and $9 billion, respectively. Credit card balances shrank by $14 billion, though borrowers are falling increasingly behind on their monthly payments.

Read More