Household debt in America has hit a record high: 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.
In a call with reporters Wednesday, researchers at the New York Fed said overall household balance sheets do remain