Americans Owe a Record $1.29 Trillion on Credit Cards. Who Pays When the Fed Hikes?
Americans added $22 billion in credit card debt in the third quarter, New York Fed data shows. That lifted the total to a record $1.29 trillion. Those balances could soon cost more to carry, as traders now bet on a Fed rate hike in December. Record Card Balances Mask an Uneven Strain The card increase The post Americans Owe a Record $1.29 Trillion on Credit Cards. Who Pays When the Fed Hikes? appeared first on BeInCrypto.
Key Takeaways
- Americans added $22 billion in credit card debt in the third quarter, New York Fed data shows.
- That lifted the total to a record $1.29 trillion.
- Those balances could soon cost more to carry, as traders now bet on a Fed rate hike in December.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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