Category: bdec7c4b-6be3-5271-90aa-caa3b7fc094b

Consumers are propping up the US economy, but they’re going into debt to do so

Americans’ commitment to spending, even in the face of high inflation and interest rates, has kept the U.S. economic engine running for the past two years, but that may finally be coming to an end.  Households are draining their savings and racking up a historic amount of credit card debt, which could finally bring to an end the post-COVID-19 spending spree. “Americans with jobs and…