Well, well, well.
Americans quietly stopped reaching for their credit cards in May. The Federal Reserve’s G.19 Consumer Credit report, released July 8, 2026, showed total consumer credit posting a flow of negative $2.2 billion on an annual basis, the first flat or declining reading since 2024....
IOW, the Biden Doom-Inflation-Regime ended, the Trump Pay-Increase-Regime took hold, and things are stabilizing.
Affordability in everything except ObamaCare. Surprised?
Impotent caveat.
ReplyDeleteThe number to watch next is whether June’s revolving credit data continues the contraction or whether May proves to be an outlier. A single month of declining credit card balances is ONLY ONE data point.