Consumer debt hits new record of $14.3 trillion


us debt worthy christian news(Worthy News) – Consumer debt hit a fresh record high to start 2020, even as credit card balances declined while Americans adjusted to the coronavirus pandemic.

Household debt balances through March totaled $14.3 trillion, a 1.1% increase from the previous quarter and now $1.6 trillion clear of the previous nominal high of $12.7 trillion in the third quarter of 2008 during the financial crisis, according to New York Federal Reserve data released Tuesday. [ Source: CNBC (Read More…) ]

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