Why aren’t we worried about $1 trillion in credit card debt? In this episode, Carson Group’s Chief Market Strategist Ryan Detrick and VP, Global Macro Strategist Sonu Varghese peel back the layers behind the latest news headline.
- U.S. consumers have more credit card debt than ever, but net wealth has also risen
- Increased interest rates may affect people’s ability to pay down this debt
- Income levels have increased, so credit utilization rates have actually decreased
- Consumer spending is strong, which is bolstering the economy
- A recent surge in bankruptcies may cause some concern
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