NY Fed Finds Uptick in US Credit Card Borrowing, Household Debt Remains Unchanged

According to the Federal Reserve Bank of New York’s quarterly household debt and credit report, total debt increased by only 0.1% to $17.06 trillion during the second quarter. The increase was driven by credit card balances, which rose by $45 billion to $1.03 trillion.  While credit card delinquencies have ticked higher, Fed researchers note these levels are not cause for alarm since they are in-line with pre-pandemic levels.

Read More