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