Household debt climbed past $16 trillion in the second quarter for the first time, as soaring inflation pushed up housing and auto balances, the New York Federal Reserve reported Tuesday…Credit card balances surged $46 billion in the three-month period and 13% over the past year, which Fed researchers said was the largest gain in more than 20 years…(CNBC)
- Average spending on grocery products at discount chains increased 71% from October 2021 to June 2022, according to analytics firm InMarket…(WSJ)
- House Speaker Nancy Pelosi is the highest-level U.S. official to visit Taiwan since 1997…(NYT)
- BILL MCBRIDE: Will 5% Mortgage Rates Cushion the Housing Market…(CRB)
- Equifax provided inaccurate credit scores on millions of U.S. consumers seeking loans during a three-week period earlier this year…(WSJ)