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AMERICANS' HOUSEHOLD DEBT HITS NEW RECORD HIGH, ACCORDING TO REPORT
Americans’ household debt levels – including mortgages, car loans, credit cards and student loans – are now at a new record high, according to data released Wednesday by the Federal Reserve Bank of New York.
Total household debt reached $18.59 trillion from July through September of this year, up by $197 billion from the previous quarter. Overall debt levels are up by $4.4 trillion since the end of 2019, just before the pandemic recession.
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