Americans now owe a record $19.1 trillion. Credit card debt just hit an all-time high of $1.29 trillion. More than half a million people filed for bankruptcy last year — and filings are still climbing. With prices still rising and the Fed possibly raising rates in December, are Americans going broke?
Today we break down the latest New York Fed data, who’s falling behind (and why it’s hitting low-income families and seniors hardest), the bankruptcy surge across the South, and what a December rate hike could mean for your wallet. Plus: practical steps if you’re struggling with debt.
In this live stream:
• Record household and credit card debt
• Who’s falling behind — and where
• The bankruptcy wave: 50% higher than 2022
• Why prices are still squeezing families
• Will the Fed raise rates in December?
• What to do if you’re drowning in debt
Tell us in the chat: Are you better or worse off than a year ago?
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Disclaimer: This stream is for information and discussion, not financial or legal advice.
Sources: Federal Reserve Bank of New York, Bureau of Labor Statistics, U.S. Courts, NPR, Reuters, CME FedWatch.
#Debt #Economy #Inflation
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