Bernanke on Personal Finances

From the AP:

"U.S. households overall have been managing their personal finances well," Bernanke said. "On average, debt burdens appear to be at manageable levels and delinquency rates on consumer loans and home mortgages have been low," Federal Reserve Chairman Ben Bernanke said Tuesday.

I need to do some more research on this, because I have been under the impression that Americans have rising, spiraling credit card debt, and that a dangerous number have variable rate mortgages at a time when the Fed is trying to tame inflation by hiking the interest rates.

I understand that part of the Fed Chairman's jobs at this time is to keep consumer spending upbeat, but I question the sincerity of some of the testimony. Expect future posts on this subject.