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

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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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