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…
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Federal Reserve
The central bank of the United States, which sets US interest rates and supervises banks.
Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.
More about Federal ReserveMore in Macro
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