Credit Card Debt Jumps Most in 20 Years as Inflation Soars

True Pundit August 3, 2022

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American households increasingly relied on their credit cards this spring as prices rose at the fastest rate in four decades.

Credit card balances jumped $46 billion in the second quarter of the year. Compared with a year ago, balances are up 13 percent, the largest increase in more than 20 years, according to data released Tuesday by the Federal Reserve Bank of New York.

Credit card balances typically rise in the April through June period. This year’s increase was driven by the highest rate of inflation in 40 years. The Consumer Price Index was up 8.6 percent in the quarter compared with a year earlier, the biggest increase since the fourth quarter of 1981. – READ MORE

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Hot Wire — Back to the Future (2008-09) (2020-21) & How to Beat The Man Thru 2035

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(PREMIUM) PAINE IN THE MORNING: 10 things you need to know this Thursday – May 12, 2022

There is also an ad free audio version of this episode you can listen to HERE. Inflation Still Soaring at 8.3 Percent as Food, Housing, and Services Keep Getting More Expensive – Prices throughout the economy have increased by 8.3 percent over the past year and inflation continues chugging along at near 40-year highs despite some…

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True Pundit May 12, 2022

(FREE) PAINE IN THE MORNING: 10 things you need to know this Thursday – May 12, 2022

There is also a full, ad-free video podcast of this broadcast available to Paine.TV members HERE. Learn more about joining our community HERE. Inflation Still Soaring at…

True Pundit May 12, 2022

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