Russian Consumers Partially Responsible For Consumer Credit GrowthHarrison Roger
On Tuesday the Federal Reserve gave us their initial Consumer Credit figure for the United States. The February figure came in +$15.5 billion, much higher than the $12.5 billion analysts had been expecting.
Consumer Credit is growing at a +7% Y/Y rate in the U.S.; reasonable, but nothing grand by historical perspective. In looking at the Consumer Credit data for the U.S., it looks as though the kind of growth driven by American consumerism, itself was driven by credit, may . . .
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