FT Discovers That High Interest Rates Force U.S. Consumers To Cut Back on Credit Card Purchases

The London Financial Times wrote Oct. 8: “The fall in card spending [in the U.S.] comes as consumers’ finances are being strained by both higher interest rates and debt loads, particularly when it comes to borrowing on credit cards. This debt has been rising in the past year and recently topped $1 trillion for all Americans for the first time.”