People can't afford their car loans. Repossessions spike to highest level in 5 years.

A major recession warning the US economy right now, with car repossessions spiking 50% from their level two years ago. And 23% from last year.

Such an alarming surge in car repossessions suggests that economy is not healthy, and that many consumers are struggling to get by and pay their bills.

Jerome Powell and the Federal Reserve will need pay close attention to the economy in the next 3-6 months, as it seems like the long-awaited recession could be around the corner. Low-income consumers are the ones who are struggling most. Experiencing the highest rate of auto loan delinquencies and
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