A report from the Federal Reserve Bank of New York reveals that American households now hold over $15 trillion in debt.
In the second quarter of 2021, debt increased by $313 billion — a 2.1% increase and the largest jump observed since the fourth quarter of 2013 — to hit a total of $14.96 trillion.
The central bank explained that beyond consumer and education spending, housing debt was the main driver of the increase:
US Household Debt Reaches All-Time High Of $15 Trillion
- by: Ben Zeisloft
- 2021-08-04
- Source:
The Daily Wire
- 08/04/2021
federal reserve bank building by telmo32 is licensed under flickr Attribution-NoDerivs 2.0 Generic (CC BY-ND 2.0)
federal reserve bank building by telmo32 is licensed under flickr Attribution-NoDerivs 2.0 Generic (CC BY-ND 2.0)
