Stretching Your Dollar: Credit Card Debt Surpasses Excess Savings
Caleb Silver, editor-in-chief of Investopedia, joined Cheddar News to discuss the rising credit card debt that Americans hold as high-interest rates and continued inflation affect households.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.