The credit score is not just a tool for determining whether someone can secure a loan or credit card; it plays a broader and more critical role in the U.S. economy. By influencing consumer and investment decisions, the credit system directly impacts economic growth, inflation, and even employment policies. The average credit score in the U.S. is around 716, according to 2023 data. This number reflects the recovery of the American economy after the challenges posed by the COVID 19…
Credit Score and the U.S. Economy: Cause and Effect
