Hidden Debt: How 'Buy Now, Pay Later' Is Clouding America's Economic Outlook Wells Fargo senior economist Tim Quinlan is raising alarms over “phantom debt,” a growing concern stemming from the popularity of “Buy Now, Pay Later” (BNPL) platforms like Affirm Holdings, Klarna, and Block Inc.’s Afterpay. These platforms, which let consumers split purchases into installments, do not report these transactions to credit agencies. This lack of transparency is troubling for market analysts and economists as it obscures a complete picture of American financial health—a critical element for predictions and planning by central banks, regional lenders, and businesses. This hidden debt layer emerges alongside increasing delinquencies in auto loans and credit cards, suggesting potential cracks in consumer financial stability amidst persistent inflation. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Defying Expectations: Gold's Rally in a Strong Economic and Stock Market Environment READ MORE Jamie Dimon: Premature Rate Cuts Could Trigger Inflation Rebound READ MORE Gold Soars to Record Heights: What's Driving the Precious Metal's Rally? READ MORE China's Central Bank Creates New Liquidity Tools to "Help" Monetary Policy READ MORE Banks Offload Bonds at a Loss, Betting on Future Fed Rate Reductions READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment