Political News & Social Views

Tag: Consumer Debt

Consumer debt totals $15.6 trillion in 2021, a record-breaking increase

Consumers ended 2021 with record levels of debt, which stood at $15.6 trillion, according to data released Tuesday from the Federal Reserve’s New York district.
A large chunk of the debt-load increase came from mortgages, which saw balances rise by $890 billion for the year.