Americans owing record credit card debt are carrying debt for longer

The video discusses the rising credit card debt in the U.S., highlighting a record high of over $1.1 trillion. It examines the impact of high interest rates and inflation on consumers, with many carrying debt month-to-month. The Federal Reserve's potential rate cuts are explored, though immediate relief is unlikely. The video also covers the long-term cost of making minimum payments and the strategies consumers use to manage debt.

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