U.S. consumer credit growth accelerated in April to the fastest pace since November 2022, according to recent data from the Federal Reserve. The June 7 data on consumer credit, or G.19, comes after the Federal Reserve raised interest rates in May by 25 basis points, to a range of 5.0–5.25 percent. Many economists are worried that…
American Consumer Credit Growth Last Month Rose to Its Fastest Pace Since November
June 8, 2023
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Business & Marketsconsumer crediteconomic policieseconomyhousehold debtinflationinterest ratesInvestmentMarketspersonal financerecessionUSUS News
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Credit Card Debt up 15%, Total Consumer Credit Debt up to $2.37 Trillion in Q4 of 2022: Equifax Report
Canadians borrowed more money last year than the year before, with total consumer debt in the last quarter of 2022 rising to $2.37 trillion, a 6.2 percent increase from the same period in 2021, according to a new report by Equifax Canada. Consumers, especially those under 35 years old, increasingly used and relied on credit…
Interest Rates Tap Out Consumers as Credit Growth Slows in January: Fed Report
Consumer credit extended its expansion streak to kick off the year as revolving and non-revolving debt grew, new Federal Reserve data confirm. U.S. consumer credit increased by $14.8 billion in January, up from $11.56 billion in December. This fell short of the market estimate of $20 billion and represented the second-lowest print since the central…
NTD Business (Jan. 10): Scott Gottlieb Pushed Censorship: Emails; New Proposal to Lower Student Loan Payments
President Biden is moving ahead with a plan to lower student loan repayments, but critics warn it could cost taxpayers more than expected. The latest Twitter Files drop seems to show Pfizer board member Scott Gottlieb pressuring Twitter to censor tweets. All the tweets went against the government’s vaccination goals. A new report shows Americans finding…
Americans’ Household Debt Hit Nearly $16 Trillion in Q1 2022
May 11, 2022
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Business & Economyconsumer creditcredit card debteconomyhousehold debtinflationMortgage originationspersonal financeUSUS News
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Household debt in the United States increased in the first quarter of 2022, reaching $15.84 trillion despite rising inflation and interest rates, according to a report on Household Debt and Credit published by the Federal Reserve Bank of New York. That’s $1.7 trillion more than at the end of 2019, just before the COVID-19 pandemic…
US Consumer Credit Up 4.4 percent in November, Best in 5 Months
WASHINGTON—U.S. consumer borrowing rose 4.4 percent in November, its strongest showing in five months, led by strong gains in auto and student loans that offset a drop in credit card borrowing. The Federal Reserve said Friday that the rise represented an increase of $15.3 billion, the best showing since June. Borrowing had risen $4.5 billion…
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