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Coming Soon: The Big Credit Squeeze - Jacksonville Business Journal

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Coming soon: The big credit squeeze

, the largest quarterly increase in 15 years, bringing the total household IOU in the U.S. to a record $16.5 trillion.

Delinquency rates, which determine a consumer’s inability to pay back debt in time, are increasing as well. But thanks to the pandemic, of 5,000 people shows people plan to buy an average of nine gifts this year compared with 16 last year. Total anticipated spending per household was $1,455, down from $1,463 a year ago.

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Coming Soon: The Big Credit Squeeze - Phoenix Business JournalAs the Federal Reserve tries desperately to bring down the rate of inflation, consumers are using a previously-used tactic to finance and offset higher costs – credit. The question is will they be able to pay back their debts?
Source: phxbizjournal - 🏆 254. / 63 Read more »