The NY Fed report shows an increase in total household debt in the second quarter of 2022, increasing by $312 billion (2%) to $16.15 trillion. The report stated that balances now stand $2 trillion higher than at the end of 2019, before the COVID-19 pandemic.
The Fintech Nexus News team is working on expanding this story to uncover the impacts and implications for fintech. We will update the story as we gather analysis from our roster of topic experts.
John has been in communications since graduating from Creative Communications at Red River College Polytechnic in Winnipeg in 1992. He launched one of Canada's first digital-only local news sites called Winnipeg First in 2007, which led to digital editor postings with the Winnipeg Free Press and Edmonton Journal. In 2012 he joined Bankless Times as managing editor, later becoming president and CEO. He and the Bankless Media co-founders completed a sale and exit in August 2021.