Recession Warning? U.S. Consumer Debt Surges to $16.9 Trillion As Debt Delinquencies Soar

Consumer debt doubled compared to pre-pandemic levels as inflation continues to persist and remains at its highest levels in 40 years, despite multiple aggressive interest rate increases.

The Federal Reserve is reporting that consumer debt continues to increase as more consumers fall behind on their monthly payments. This is yet another red flag indicating that a recession is not a re…