Recession fears have reignited concerns that American consumers are taking on too much debt. Despite having helped the US economy weather many rough patches, experts worry that consumers might be maxed out.
Consumer credit has played a crucial role in supporting the US economy during difficult times. However, with recession fears resurfacing, experts caution that consumers may have reached their borrowing limits.
This raises concerns about the ability of American households to absorb future economic shocks, such as higher interest rates or job losses. As a result, economists are now warning of the risks of debt overload and its potential impact on the economy.
Source: https://www.livemint.com/economy/consumers-keep-bailing-out-the-economy-now-they-might-be-maxed-out-11741695805363.html