_{US NEWS}

US household debt hits a new record, NY Fed finds

U.S. household debt climbed to a record $18.59 trillion in Q3 2025, rising by $197 billion, according to the New York Fed. Mortgage balances increased by $137 billion to $13.07 trillion, while credit card debt hit a new high of $1.23 trillion. Auto loans remained steady at $1.66 trillion, and student loans rose $15 billion to $1.65 trillion.

Delinquency rates were 4.5% overall, with serious delinquencies (90+ days overdue) increasing to 3.03%, up from 1.68% a year earlier. Student loan delinquencies surged after payment reporting resumed, with 9.4% now seriously delinquent.

Despite debt growth, the Fed noted mortgage delinquencies remain low due to strong home equity and strict lending standards. However, credit card and student loan delinquencies are rising, signaling growing strain among lower-income households.

The report follows the Fed’s second rate cut of 2025, as Chair Jerome Powell warned of a “bifurcated economy” — affluent consumers continue spending, while lower-income Americans are struggling under rising debt and higher costs. Read More.

_{WORLD NEWS}

Consumer sentiment slides to near-lowest level on record as government shutdown drags on

U.S. consumer sentiment dropped sharply in November, falling to 50.3, near its lowest level on record, as the government shutdown dragged on and economic worries mounted, according to the University of Michigan’s preliminary survey.

The decline—a 6% drop overall—was driven by a 17% fall in current personal finances and an 11% drop in business expectations, marking the weakest sentiment since June 2022, when inflation peaked. The downturn was broad-based across age, income, and political lines, except among wealthier Americans with significant stock holdings, who saw sentiment rise 11% amid market gains.

Inflation expectations edged up slightly to 4.7% for the next year, while long-term expectations dipped to 3.6%, remaining above the Fed’s 2% target as tariffs push prices higher.

The report reflects growing public concern over the economic fallout of the prolonged shutdown and continued cost pressures, even as the Federal Reserve weighs further rate cuts. Final sentiment data for November will be released Nov. 21. Read More.