Despite Historically Low Interest Rates, Consumers Are Paying an Average of 14 Percent on Credit Card Debt

By Pam Martens and Russ Martens: August 9, 2017 On August 7 the Federal Reserve released an updated report on consumer debt. It raises more questions about how the big Wall Street banks are making all those billions of dollars in profits. Since 2012, the benchmark 10-year U.S. Treasury note has yielded below 2.5 percent for the majority of that period. But according to the Federal Reserve chart above, on all consumer credit card accounts … Continue reading