Young Borrowers Struggle as Credit Card Debt Hits 14-Year High Credit card debt is becoming a growing concern for the economy, with severe delinquencies rising to 10.7% in the first quarter, the highest in 14 years, as reported by the Federal Reserve Bank of New York. Younger borrowers are particularly struggling as interest rates hit a 23-year high. Total credit card debt increased to $1.12 trillion from just under $1 trillion a year ago, signaling potential risks to consumer spending. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts New Highs For Gold & Bitcoin: Monthly Wrap with Alan Hibbard READ MORE A Break from Tradition: How the Fed's Recent Policies Have Cost US Households READ MORE Banking Sector Woes Propel Treasury Rally, Rate Cut Forecasts READ MORE Powell to Defend Fed's 'Higher-for-Longer' Rate Policy in Congressional Testimony READ MORE "AI-Fueled Equity Bubble" – Big Tech to Ignite Next Equity Market Surge READ MORE Add a Comment Cancel replyYour email address will not be published.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