Household debt skyrocketed to nearly $17 trillion last quarter
Americans continue to add to their debt — and grew their credit card balances at record rates. That’s just not sustainable, an expert says.
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Federal Reserve Bank of New York
Household debt skyrocketed by $1T in 2021
U.S. household debt grew by more than $1 trillion in 2021, as home prices and new and used automobile prices increased, including some $333 billion in Q4.
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Black-owned companies are shutting down twice as fast as other businesses
The New York Fed on Wednesday unveiled a study on the virus’ impact on business owners nationwide, and the results show disparities in how the business owners of various races have struggled. The report estimates that 41% of Black-owned businesses across the country shut down between February and April.
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