Economy / FinanceNorth America

Americans’ Household Debt Hit Nearly $16 Trillion in Q1 2022

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Consumers to Pay $3.3 Billion Extra in Credit Card Interest

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.

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