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Credit card balances reached $1.26 trillion at the midpoint of the year, Federal Reserve Bank of New York household debt research shows, with the institution framing the climb inside a K-shaped divide between borrower cohorts it describes as persistent.
The bank's report puts the aggregate credit card figure at the center of its mid-year read on household debt.
The direction of travel in balances is up, and the structural split between consumer segments is the condition the New York Fed's research keeps returning to.
The K-shaped divide The K-shape framing the New York Fed applies describes a split where one segment of borrowers continues to add to credit card debt while another holds steady or carries a lighter load.
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