New financial records broken

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,”

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.