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 Ports as Pawns: The $2 Trillion Transformation of Global Trade Hubs READ MORE Market Tremors: NY Community Bancorp's Record Drop Highlights Commercial Real Estate Concerns READ MORE Striking Gold: Could Miner's Returns Outpace Gold Bullion? READ MORE UAE Halts Operations at 32 Gold Refineries to Combat Money Laundering READ MORE Powell Hints at September Rate Reduction if Inflation Eases READ MORE Add a Comment Cancel replyYour email address will not be published.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