Expanding economy has consumers feeling flush enough to keep borrowing
Expanding economy has consumers feeling flush enough to keep borrowing
The Federal Reserve reports that outstanding consumer credit rose by $22 billion dollars in November, after an even bigger rise in October. That puts U.S. consumers on track to increase their total debt on credit cards, student-loans and car-loans by 6-3/4 percent this year. How might that record-high consumer debt impact the U.S. economy?
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