Markets

US consumer debt hit a record $14.3 trillion in the first quarter

Total household debt increased 1.1% to $US14.3 trillion through March 2020, according to a Tuesday report from the New York Federal Reserve. The total balance is now $US1.6 trillion higher in nominal terms than the previous record of $US12.68 trillion in the third quarter of 2008. Credit card balances declined […]
US consumer debt hit a record $14.3 trillion in the first quarter
Markets

Goldman Sachs is scaling back expectations for the buzzy 2-year-old service its new CEO is relying on, and it highlights a major concern with the US economy

Goldman Sachs has cut loan origination targets for its consumer lending platform Marcus for 2019, according to a Bloomberg report. The pullback reflects the firm’s growing concerns about the consumer debt market, the report said. Marcus is a key part of Goldman CEO David Solomon’s growth plans for the bank. […]
Goldman Sachs is scaling back expectations for the buzzy 2-year-old service its new CEO is relying on, and it highlights a major concern with the US economy