How is the Fed going to raise rates?

Are these stats the sign of a booming economy?

Total U.S. auto loan debt has surged to an all-time high of $1.69 trillion,, with average payments exceeding $680 for new cars. Following the Federal Reserve’s decision to hold interest rates steady, the average APR hovers around 6.9%. Consequently, subprime loan delinquencies have reached multi-decade highs, and many buyers are forced into extended 7-to-8-year loans. [1, 2, 3, 4]

Key Auto Loan Trends & Statistics

Rising Monthly Bills: 20% of new car financed purchases come with a monthly payment of $1,000 or more. Loan Terms Stretching: More than 1 in 5 new car buyers are choosing loans of 7 years or longer to artificially lower their monthly payment. Underwater Borrowers: Nearly 6 in 10 borrowers are rolling negative equity (debt from an older car) into their new loan. Delinquency Risks: Subprime delinquencies hit their highest mark in over 30 years, highlighting a squeeze on lower-income households

Total student loan debt in America has hit $1.87 trillion. This massive balance is shared among roughly 42 million borrowers, with the crisis deepening as a record 9.16 million Americans fall into default following recent policy overhauls and the expiration of pandemic-era protections

Total U.S. household debt stands at a historic high of $18.8 trillion.