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Fortune

Nino Paoli

Intuit CEO says Gen Z is staving off recession by putting it on plastic: 'Credit card balances are up 36-37%, but they still have jobs’

Sasan Goodarzi Inflation SmartAsset

Intuit CEO Sasan Goodarzi says Gen Z is struggling with credit card debt as balances are at an all-time high. (Credit: Stuart Isett/Fortune)

A runaway affordability crisis is pushing Gen Z consumers to rack up their credit card balances to an all-time high.

As Intuit CEO, Sasan Goodarzi has a wealth of data at his disposal to piece together an outlook for America’s economy. The global financial technology company owns personal finance brands including TurboTax, QuickBooks, and Credit Karma. Goodarzi says while the job market is “still strong” Gen Z is still struggling with credit-card debt.

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