Consumers are really, really indebted

A new report from the Federal Reserve Bank of New York says credit card debt reached all-time highs at the end of 2022, around $986 billion in total. A look into why that matters, and what it says about the economy. As Turkey recovers from a devastating set of earthquakes that rocked the country’s southern region this month, questions are arising about a so-called “earthquake tax” that’s been in place since 2004. And, while revenue from online ads shrinks for giants like Meta and Alphabet, small businesses are keeping up their advertising campaigns.