Rising Credit Card Delinquencies May Affect US Economy and Currencies Meme
According to CoinDesk, the percentage of seriously delinquent credit card loans in the US has reached its highest level in more than a decade, which could signal a challenging period ahead for the economy.
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, has previously stated that cracks in consumer finances are some of the most concerning economic data and often serve as a leading indicator that the economic situation may worsen. Increased debt means less disposable income and a lower inclination to invest in risky assets like meme coins. Luigi Guiso, Tullio Jappelli, and Daniele Terlizzese, writing in the American Economic Review, suggested that borrowing restrictions may lead people to hold a smaller proportion of their wealth in illiquid and risky assets.#SHİB #pepe⚡ #DOGENEWS $SHIB
