A strong economy held up by consumer borrowing/debt?

What’s happening: The Federal Reserve warned that corporate America is taking on too much debt, Axios’ Dan Primack writes.

• Rising consumer debt is also a worry. U.S. banks are tightening their lending standards and raising rates on commercial loans and credit cards, according to Axios’ Dion Rabouin and Courtenay Brown.
• Credit card delinquency rates in Q1 hit the highest level since 2012, driven partly by a spike in overdue payments by people ages 18–29, according to the New York Federal Reserve.
• U.S. national debt is $1 trillion higher than the previous record….

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