Household Debt Hits Record High of $14.1 Trillion


bigstock A Magnifying Glass Is Looking 295644895 debt chained handcuff recession(Worthy News) – U.S. household debt set a new record in the final quarter of 2019, the Federal Reserve Bank of New York said in a report on Tuesday, climbing to a historic peak of $14.1 trillion.

Total household debt balances grew by $601 billion in 2019, which is the largest annual gain since 2007, around the time of the onset of the global financial crisis.

According to a note from economists at the New York Fed, the bulk of the debt growth was driven by a large increase in mortgage debt balances, which rose by $433 billion last year. [ Source: Epoch Times (Read More…) ]

13
people are currently praying.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Latest Worthy News

U.S. To Withdraw All Troops From Syria, Ending Decade-Long Mission
DOJ Issues New Subpoenas in Probe of Russia Investigation Origins
‘Just The Beginning Of Enormous Growth’: White House Heralds Strong Jobs Report
Blasphemy Accusations And Mob Violence Threaten Christians In Pakistan And Iran (Worthy News In-Depth)
Satellite Images Show Iran Reinforcing Key Military, Nuclear Sites Amid Rising Tensions
US-Iran Confrontation Could Begin Within Days as Military Buildup Intensifies
Israel Set to Deploy Arrow 4 Missile Defense System in Major Upgrade to Air Shield
Hungary, Slovakia Seek Oil Alternatives As Croatia Resists Russian Supply Route (Worthy News Focus)
Potomac Spill Draws Federal, State Responses
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News