Financial distress getting worse:
The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion…
…“In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,”
https://www.newyorkfed.org/newsevents/news/research/2024/20240514
Not to worry though:
U.S. Treasury Secretary Janet Yellen told Reuters on Thursday that U.S. economic growth was likely stronger than suggested by weaker-than-expected data on first-quarter output and said the Biden administration was keeping all options open to respond to threats from China’s excess industrial capacity.