​US Consumers Crack: Shock Drop In Credit Card Debt Is Biggest Since Covid Crash As Rates Hit Record High – Tyler Durden

US Consumers Crack: Shock Drop In Credit Card Debt Is Biggest Since Covid Crash As Rates Hit Record High On a day when an early attempt by the BOJ to kickstart the global carry trade by capitulating on Japan’s recent mistimed foray into rate hikes, has crashed and burned with stocks tumbling, amid renewed concerns that the US economy is slowing (at least until next week’s “surprising” CPI beat), moments ago the Fed poured gasoline on the rising flames when it reported June consumer credit data that was atrocious,  and confirmed our worst fears: the consumer has hit a brick…  — Continue at ZeroHedge News : Read More