A growing legion of debt-laden 'zombie consumers' has been enabled by low interest rates, economists say

Interest-rate cuts in the US have been cheered by Wall Street and the White House. To fend off a slowdown in the economy, the Federal Reserve lowered its benchmark interest rate a quarter percentage point to a target range of between 2% and 2.25% last month. Such a move typically lowers the cost of borrowing for credit cards, mortgages, and other loans.
Read more: https://www.businessinsider.com/us-consumer-debt-low-interest-rates-have-fueled-zombie-consumers-2019-8?source=Snapzu