Slide In Consumer Credit Accelerates As Excess Savings Exhausted, Average Credit Card Rate Hits 22%
September 08, 2023 at 15:52 PM EDT
Last month’s consumer credit report was a big shock because it revealed that, for the first time since the covid crash, consumer revolving credit declined by $0.6 billion as Americans paid down their credit card debt, something they only do when a recession looms, which prompted us to conclude that the US consumer had finally […] Source
