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Credit card debt is at record high as Fed raises rates again

Por: Associated Press Life March 22, 2023

NEW YORK (AP) — As the Federal Reserve , credit card debt is already at a record high, and more people are carrying debt month to month. The Fed’s interest rate increases are meant to fight inflation, but they’ve also led to higher annual percentage rates (APRs) for people with credit card debt, which means they pay more in interest. The Fed announced Wednesday that it would increase rates another quarter of a point., people are leaning on... + full article



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