Consumer credit just hit $5.19 trillion. New record.
That's $154 billion added in 14 straight months. Since early 2022? Up $684 billion.
Auto and student loans climbed $13.1 billion in August alone, now at $3.84 trillion.
Credit card balances actually dropped $4.8 billion, but still near all-time highs at $1.35 trillion.
People keep saying the consumer is tapped out. The data says they're still borrowing.
Question is whether this reflects confidence or necessity. Strong labor market supporting spending, or maxed-out budgets forcing debt? Probably both.
Either way, this matters for Fed policy, retail earnings, and how long this cycle runs. Watch delinquency rates next.
That's $154 billion added in 14 straight months. Since early 2022? Up $684 billion.
Auto and student loans climbed $13.1 billion in August alone, now at $3.84 trillion.
Credit card balances actually dropped $4.8 billion, but still near all-time highs at $1.35 trillion.
People keep saying the consumer is tapped out. The data says they're still borrowing.
Question is whether this reflects confidence or necessity. Strong labor market supporting spending, or maxed-out budgets forcing debt? Probably both.
Either way, this matters for Fed policy, retail earnings, and how long this cycle runs. Watch delinquency rates next.