Take away January’s rise in consumer loans related to government buying up more student loans from private lenders, and consumer credit would have fallen 13 consecutive months. Please consider Consumer credit drop resumes Total consumer credit fell a seasonally adjusted $11.5 billion, at an annual rate of 5.6%, to $2.448 trillion in February, the Federal Reserve reported. Economists predicted a decline in total borrowing of $0.7 billion in February, according to a consensus estimate from …

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Consumer Credit Drops $11.5 Billion, 5.6% annualized, 12th drop in 13 Months; Increase In January was a Mirage related to Student Loans