Credit card delinquencies climb

Credit card delinquencies are sitting at 13% so far this year. It’s the highest national rate since the tail-end of the Great Recession. The aftermath of the COVID-19 pandemic, including high inflation and job uncertainty, is partially to blame. Also in this episode: Home equity lines of credit become more popular as traditional borrowing rates climb, small business owners are cautious but optimistic — and trying to hire — and Kyla Scanlon explains economic nihilism.

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Read the stories in today’s episode:

Younger consumers are turning to "little treats" in the face of economic nihilism
Why lines of credit have become a preferred piggy bank for homeowners
Credit card delinquencies approach Great Recession levels
China is shaping the technology of the future. Where does that leave the U.S.?
Small business owners are feeling uncertain but optimistic