The surge in US credit card debt, surpassing the significant $1 trillion threshold, is a cause for concern. This comes as the Federal Reserve has taken aggressive steps to raise interest rates, leading to credit card rates reaching an alarming 21.19%.
US credit card debt is off the charts
It has now crossed the $1 trillion threshold
This is happening at a time when the Fed has aggressively raised interest rates
Resulting in credit card rates reaching 21.19%
To make things worse, 55% of Americans are now living… pic.twitter.com/MVPQ0aAV4g
— Bravos Research (@bravosresearch) October 25, 2023