The United States Federal Reserve has decided to maintain interest rates at their highest level since before the 2008-09 global financial crisis due to high inflation. This has led some experts to predict that inflation may persist for a decade or more, prompting central banks to consider higher rates that may last longer. The current situation is reminiscent of the market cycle of 2001-07, with record-high household debt and rising delinquency rates on credit card loans. Despite this, the US economy remains resilient and the consumer continues to spend, with wages rising faster than inflation. However, the enormous debt pile of US consumers will eventually topple, especially if interest rates remain high for an extended period.