Credit Card Debt Hits Record $1.28 Trillion — Crypto Risk Sentiment Watch

The statement that total U.S. credit card debt has reached a record level of $1.28 trillion is strongly supported by the authoritative source that maintains official household debt statistics: the Federal Reserve Bank of New York’s Liberty Street Economics blog, which publishes the Household Debt and Credit Report. That blog specifically reports the $1.28 trillion figure as the latest level for outstanding credit card balances, confirming it as both current and a record high. This is primary data, directly derived from the Federal Reserve Bank of New York’s quarterly dataset. Other high-authority Federal Reserve sources such as the Board’s official publications (Consumer Credit G.19 and household debt reports) align with the same general trend of record-high revolving debt. Secondary mentions, including reputable commentary and media summaries, attribute the same figure back to the New York Fed’s data, supporting consistency across channels. No credible evidence contradicts this figure. While less authoritative posts (e.g., social media and blogs) echo the same number, the decisive weight of official Federal Reserve data sources confirms the statement as accurate. Therefore, the statement’s truth probability is high, with strong alignment between authoritative and secondary evidence.