American Consumer Credit Growth Last Month Rose to Its Fastest Pace Since November
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 the Fed will hike rates again when policymakers meet on June 13–14, which would be a burden on cardholders.
It has been thought that the slowdown in credit growth is the reason why consumers have purchased fewer big-ticket items amid inflationary concerns, which could lead to a slowdown in the economy….