Americans' household debt has reached a new high, with total debt levels climbing to $18.59 trillion from July through September , according to a report by the Federal Reserve Bank of New York. This marks an increase of $197 billion from the previous quarter. Since the end of 2019, overall debt levels have risen by $4.4 trillion.

The report highlights that credit card balances rose by $24 billion , reaching $1.23 trillion, which is 5.75% higher than the same period last year. Auto loan balances remained steady at $1.66 trillion, while student loan balances increased by $15 billion to $1.65 trillion. Other balances, including retail cards and consumer finance loans, grew by $10 billion to total $550 billion. In total, non-housing balances saw a $49 billion increase, representing a 1% r

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