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Keyword: debtlconsumer

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  • Consumer debt passes $17T for first time

    05/15/2023 12:21:17 PM PDT · by ChicagoConservative27 · 38 replies
    The Hill ^ | 05/15/2023 | STEPHEN NEUKAM
    Total consumer debt rose to an all-time high in the first quarter of 2023, according to the Federal Reserve Bank of New York, with increases to mortgage balances, auto loans and student loans putting debt at a record level. Consumer debt rose to over $17 trillion for the first time ever, according to the data released by the New York Fed. The total represented a $148 billion increase from the previous quarter and a $1.2 trillion surge from last year. The rise in debt was spurred on by a $121 billion climb in mortgage balances in the U.S., bringing total...