Alarming Report on Americans Released — This Is a Very Bad Sign

Alarming Report on Americans Released — This Is a Very Bad Sign

THE SIGNAL

In an alarming sign of the current state of the economy, a new report has revealed just how tightly everyday Americans are being squeezed.
The New York Federal Reserve’s quarterly report on household debt and credit, released this month, found that “aggregate household debt balances increased by $148 billion in the first quarter of 2023.” That amounts to a 0.9 percent rise from the fourth quarter of 2022.
While that quarter-to-quarter bump is notable, the big-picture outlook is just as grim.

According to the report, the total outstanding balance for Americans currently sits at $17.05 trillion. That whopping figure is a $2.9 trillio …

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