February 06 2024

Axios: "Delinquency rates on credit cards and auto loans spiked to their highest since the Great Recession, according to a New York Fed report out Tuesday.



'Credit card and auto loan transitions into delinquency are still rising above pre-pandemic levels,' Wilbert van der Klaauw, an economic research adviser at the New York Fed, said in a press release. 'This signals increased financial stress, especially among younger and lower-income households.'"

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