Published 1 year ago

Credit card debt is at record high as Fed weighs rate hike

Summary by Ground News

The Fed announced Wednesday that it would increase rates another quarter of a point. With inflation still high, people are leaning on their credit cards more for everyday purchases. 46% of people are carrying debt from month to month, up from 39% a year ago. About half of Black and Hispanic adults say their household debt has increased.

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Associated Press News

Credit card debt is at record high as Fed raises rates again

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month. The Fed’s interest rate

1 year ago·United States

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abc News

Credit card debt is at record high as Fed raises rates again

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month

1 year ago·United States

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KIFI

Credit card debt is at record high as Fed raises rates again

By CORA LEWIS Associated Press NEW YORK (AP) — As the Federal Reserve considers whether to raise interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month. The Fed’s interest rate increases are meant to fight inflation, but they’ve also led to higher annual percentage rates (APRs) for people with credit card debt, which means they pay more in interest. And with inflation still high, peop…

1 year ago·Idaho Falls, United States

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Winnipeg Free Press

Credit card debt is at record high as Fed raises rates again

NEW YORK (AP) — As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month. […]

1 year ago·Winnipeg, Canada

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Los Angeles Times

Credit card debt is at record high as Fed raises rates again

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month.

1 year ago·Los Angeles, United States

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WPLG

Credit card debt is at record high as Fed raises rates again

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month. The Fed’s interest rate increases are meant to fight inflation, but they’ve also led to higher annual percentage rates (APRs) for people with credit card debt, which means they pay more in interest. The Fed announced Wednesday that it would increase rates another quarter of a point.With inflation sti…

1 year ago·Miami, United States

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