Household debt soars at fastest pace in 15 years as Inflation boosts U.S. household spending. Home sales have dropped for nine straight months, driven by surging mortgage rates while investors’ home purchases drop 30% as Fed officials see smaller rate hikes coming ‘soon,’ minutes show. At the same time, Amazon Founder, Jeff Bezos urges consumers and business owners to reduce risk in the face of a likely recession. Bezos once again warned of the challenges of an economic recession, telling consumers and small business owners they should reduce their risk by hanging onto cash and delaying big purchases.
Watch This NEXT ⏩ The FED Is About To CRASH More Than Just The Housing Market ⏩ https://youtu.be/TVUgWR0Feeo
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Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says. The biggest contributors to that debt load came from mortgage balances, which rose $1 trillion from a year ago to $11.7 trillion, and credit card debt, which climbed to $930 billion. The credit card balance collectively rose more than 15% from the same period in 2021, the largest annual jump in more than 20 year
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