US HOUSEHOLD DEBT TICKS UP TO NEW ALL-TIME HIGH AS INFLATION CONTINUES TO RISE U.S. household debt, including mortgages, credit cards, auto loans and student loans, reached an all-time high of $18.8 trillion in the first three months of the year, according to new data Tuesday from the Federal Reserve Bank of New York. The increase in overall debt was driven by higher balances on mortgages and auto loans. Student loan debt slightly decreased to $1.66 trillion. However, many borrowers are falling behind on their payments, with more than 10% of student loan balances now past due, nearing pre-pandemic levels, the Federal Reserve Bank of New York said. Inflation jumps to its highest level in 3 years Credit card debt dipped by $25 billion during the first quarter of the year, with outstanding card balances at $1.25 trillion. Credit card debt is up by $70 billion over the past year. Full article: https://www.msn.com/en-us/money/markets/us-household-debt-ticks-up-to-new-all-time-high-as-inflation-continues-to-rise/ar-AA230m1x?ocid=msedgntp&pc=HCTS&cvid=6a03aed427eb4edba2ff5779b25b8d95&ei=43(FXHedge)