Post #367 by FishBulb on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks ❤

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https://finance.yahoo.com/news/credit-card-delinqu...

“ The share of credit card balances that are past due reached the highest level ever in the first quarter, according to data the Philadelphia Federal Reserve has tracked since 2012.

The delinquencies come as consumers have leaned heavily on borrowing to pay for everything from groceries to vacations — expenses that have risen sharply during the pandemic recovery — and as higher interest rates to curb inflation have pushed card rates to record highs.”

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