Household debt in the United States increased in the first quarter of 2022, reaching $15.84 trillion despite rising inflation and interest rates, according to a report on Household Debt and Credit published by the Federal Reserve Bank of New York. That’s $1.7 trillion more than at the end of 2019, just before the COVID-19 pandemic…
Americans’ Household Debt Hit Nearly $16 Trillion in Q1 2022
May 11, 2022
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Bank of Canada Warns of Rising Risks From Household Debt, and a Hot Housing Market
OTTAWA—The Bank of Canada says its concerns are mounting that households are piling on too much debt and posing what the central bank says is a key vulnerability to the economy. In its latest financial system review, the Bank of Canada said Thursday that many households have taken on large mortgages compared with their income,…
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