Consumer Debt Explodes Higher Under Pressure from 40 Year High Inflation

Americans relied on their credit cards to cope with the fastest price hikes in forty years in February, data from the Federal Reserve indicated on Thursday.

Total consumer credit increased by $41.98 billion in February, a massive acceleration from the rise of $8.9 billion in January, the Fed said. This was one of the largest monthly increases in consumer credit in records going back to 1943. Revolving credit, mostly credit cars, rose at a 20.7 percent rate in February, up from a four percent gain in January.Home loans are not included in the consumer credit data compiled by the Federal Reserve.Consumer prices rose 0.8 percent in February. Compared with a year earlier, prices were up 7.9 percent, the most inflation since 1982. The cost of groceries jumped 1.4 percent and was up 8.6 percent compared with a year ago. Gasoline prices rose 6.6 percent and were up 38 percent annually.

Don’t worry, Joe Biden and his friends and family won’t be effected.

That's the fault of the person using the card.

People talking about food shortages, but bigger problem will be money shortages. First public response, put it on credit card. Borrow. This coming in front of aggressive tightening by the Fed. Higher interest rates & borrowing costs and what everyone forgets, higher deficits.

Oh really….. (as of March Fed report).

Biden is in charge of worldwide inflation?

A terrorist attack in central Tel Aviv at 9:30 PM Israel time. A terrorist with a gun entered the pub and fired at the people, then fled the scene. There are two dead and six injured in the incident.

A lot of lazy poors out there, so not surprising.

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