Economic Policy and Federal Reserve Actions - Senator Elizabeth Warren argues that the Federal Reserve had to cut interest rates to protect American jobs, indicating a weak job market despite inflation concerns [1] - The inflation rate is currently at 2.9%, down from a high of 9% under the Biden administration, but the job market shows signs of weakness with unemployment at 4.3% [1] - Consumer debt has increased by $4 trillion over the past six years, indicating that many families are struggling to make ends meet without borrowing [1] Impact of Tariffs and Healthcare Costs - The Trump administration's tariffs are driving up costs for American families, contributing to rising prices in groceries, utilities, and real estate [2][3] - The Republicans have cut healthcare access for 15 million Americans, which is expected to increase costs for those with health insurance as well [3] Economic Disparities - There is a growing divide in the economy, with significant gains for Wall Street and the wealthy, while many Americans are facing increased financial burdens [1] - The current economic policies are criticized for benefiting a small number of billionaires at the expense of the broader population [4]

CNBC has exclusive data from the National Federation for Credit Counseling and the Harris poll showing how Americans are struggling with debt and how it all how it cuts across all income levels. Sharon Eper joins us now to break down this data. It sounds a little a little concerning. It is concerning, Leslie.Data shows that many Americans are missing the mark on executing financial basics like budgeting, building emergency savings, paying bills on time, even though they give themselves top grades on their k ...

Consumer Debt & Delinquency - US consumer debt in serious delinquency rose in the second quarter [1] - Delinquency rate reached the highest level since early 2020 [1] - The increase reflects a record surge in past-due student-loan debt [1]

Consumer Debt Overview - US household debt reached a record high of $18.2 trillion in Q1 2025 [1] - Consumer debt includes credit cards, auto loans, mortgages, student loans, and buy now pay later plans [1] - High consumer debt can lead to defaults, impacting the entire economy [1] Credit Card Debt - Americans owed over $1.08 trillion on credit cards as of Q1 2025, a 50% increase since 2021 [1] - The typical cardholder with a balance owes over $7,300 [1] - Over 3% of credit card balances were at least 30 days delinquent as of Q1 2025 [1] - Retail credit cards can have interest rates as high as 36% [1] Buy Now Pay Later (BNPL) - BNPL services allow consumers to pay for purchases in installments [2] - BNPL debt pile could reach $700 billion by 2028 [2] - Over 40% of BNPL users have missed at least one payment [2] - Late fees for BNPL can be up to 50% of the payment amount [2] Mortgage Debt - Americans owe $12.8 trillion on 85 million mortgages [2] - The average borrower owes just under $150,000, and the typical home price is around $510,000 [2] - Mortgage rates have climbed to around 7%, the highest in over 20 years [2] - 0.7% of mortgages are seriously delinquent (90+ days past due) [3] Student Loan Debt - Americans owe nearly $1.08 trillion in student loans [3] - The average federal borrower owes more than $38,000 [3] - Over 20% of borrowers are 90 days or more past due [3] - The Biden administration cancelled more than $180 billion in loans for select groups [3] Economic Impact - Americans spend over $560 billion a year on interest payments [3] - Americans collectively work 18 billion hours a year to service interest on debts [4] - Consumer spending makes up nearly 70% of US GDP [4]