Rising Delinquencies Among Low-Income U.S. Borrowers Signal Economic Warning In the U.S., lower-income borrowers are increasingly unable to meet their loan obligations, prompting banks to tighten credit availability for products like credit cards and car loans. This financial strain is partly due to dwindling savings and persistent high interest rates which are exacerbating the budget constraints of households earning under $45,000 annually. The situation is starkly different for higher-income groups, who continue to demonstrate financial resilience. Austan Goolsbee of the Chicago Federal Reserve and Arijit Roy of U.S. Bancorp highlighted concerns about rising consumer delinquencies and default rates, especially among first-time and low-income borrowers, signaling potential worsening economic conditions. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Global PMI Data Shows Persistent Price Inflation in May READ MORE Fed's Powell: More Evidence Needed Before Rate Cut Considerations READ MORE Biden Has Forgiven $136 Billion in Student Debt – More Could Be on the Way READ MORE Why You Should Pay Off Your Credit Card ASAP READ MORE The World Bank: Gold Investing Handbook for Asset Managers READ MORE Add a Comment Cancel replyYour email address will not be published.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