Federal Reserve Chairman Jerome Powell (Photo by Alex Wong) Getty ImagesLast week Federal Reserve Chairman Jerome Powell testified before Congress. I predicted the problems that occurred before the crash of 2008 and the debt bubble is significantly worse today. Overall household debt is 25.1% above the trough set in the second quarter of 2013. Total Household Debt Adviser ProspectivesTotal Household Debt Balance (Trillions)Mortgage loans are the largest portion of household debt and it rose by $31 billion to $9.44 trillion above the $9.3 trillion peak in the third quarter of 2008. This was below Fed Chair Powell’s goal of reducing the balance sheet to $3.5 trillion.

Source: Forbes November 18, 2019 20:48 UTC