US household debt hits record $19.9 trillion (opens in new tab)
Société Générale warned clients that rising US household debt and falling savings have left the US economy more vulnerable, according to Business Insider. Total household liabilities reached a record $19.9 trillion at the end of the first quarter, Federal Reserve data cited by Business Insider showed, while the personal saving rate fell to 2.6% in April, Bureau of Economic Analysis data cited in the same report showed. The Economist separately reported that America’s savings rate has plunged....
Read the original article