Increasing debt + increasing interest rates = bad news for consumers?

My article is about how an increase in consumers’ revolving credit card debt combined with expected interest rate hikes seems like bad news for consumers. Consumer debt will become more expensive as variable interest rates go up. Existing debt will get more difficult to repay due to defaults. Increased defaults will lead to greater difficulty in getting new credit. Questions: 1. Do you think the scenario I’ve described above is accurate? Why or why not? 2. Why should the typical consumer care about what consumers as a whole are doing with regard to their debt? 3. Why should the typical consumer care about what the Fed does with interest rates? Requirements: Seeking responses from financial experts. For tips on how to
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