American household debt continues to march higher, driven by one major factor, New York Fed says

American households’ debt continued to increase in the first quarter of this year as the country stared down inflation, soaring housing costs, and fears of a possible recession.  While the early days of the pandemic allowed some families to build up their savings and pare down old debt, total household debt rose by $266 billion in 2022’s first quarter as the public-health crisis entered its ...

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