Consumer Debt Soars to $1.3 Trillion as Economy Faces Challenges
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Revolving consumer debt in the US hit a new record high of $1.3 trillion in November 2023, up nearly 18% from a year earlier.
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Inflation has driven up prices for consumers, while interest rate hikes have pushed mortgage and credit card rates to record highs.
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The US is importing less from China in an effort to reduce dependence on its main geopolitical rival.
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Private equity is moving into new sectors like dentistry and used cars that were previously out of reach.
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A fake announcement that the SEC approved a spot bitcoin ETF caused prices to spike and then plunge within minutes.