U.S. Household Debt Tops $16 Trillion Amid Rising Inflation

Reuters, Aug. 2, 2022–Lindsay Dunsmuir
U.S. household debt increased to a record $16.15 trillion in the second quarter, driven mostly by a $207 billion jump in mortgage balances, with credit card and auto loan debt also rising as consumers lifted their borrowing to deal with soaring inflation, a Federal Reserve report showed on Tuesday. (MBA mention)