Fed raises key rate by a half-point in bid to tame inflation
The increase in the Fed’s key short-term rate raised it to a range of 0.75% to 1%.
The Federal Reserve
U.S. Consumer Borrowing Up $20.8 Billion, Most in 10 months
American consumers increased their borrowing by $20.8 billion in September. It was the largest gain in 10 months and was led by a sharp increase in borrowing for auto and student loans. The Federal Reserve says that September increase followed a gain of $13.8 billion in August and marks the largest monthly increase since a $24.5 billion jump in November…
US Consumer Credit Rose at Slower Pace in June
American consumers increased their borrowing at a slower pace in June, as the category that includes auto and student loans posted the smallest gain in a year. The Federal Reserve says overall consumer credit expanded by $12.4 billion in June, down from May’s $18.3 billion increase. Non-revolving credit, which includes auto and student loans, rose $8.3 billion, down from an…
US Consumer Credit Up $18.4 Billion in May, Most in 6 months
American consumers increased their borrowing in May at the fastest pace in six months, reflecting a sharp rebound in the category that includes credit cards. The Federal Reserve reports that total consumer borrowing rose by $18.4 billion in May, the strongest gain since a $25.1 billion increase in November. In addition, April’s gain of $8.2 billion, the weakest increase in…
