Tag Archives: Federal Reserve

Revolving credit creeps toward $1 trillion

Jeremy Simon

The latest Federal Reserve G.19 Consumer Credit Report shows that consumers accelerated their use of credit cards in January. Consumer use of revolving credit (which includes credit cards) surged at an annual rate of 7 percent during the first month of the year, up significantly from a 2.8 increase in December. That pushed the total amount of revolving credit to $947.4 billion. In December, total revolving credit stood at $941.8 billion.
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Fed cuts interest rates 3/4 of a point

Daniel Ray

In a surprise move that underscores the depth of recession fears, American central bankers cut a key interest rate by 3/4 of 1 percent.
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Consumers went a-charging in November

Jeremy Simon

Consumers relied heavily on credit cards to drive their spending in the run-up to the holiday season, according to recently published consumer credit statistics from the Federal Reserve.
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Getting a credit card got tougher, Fed says

Jeremy Simon

The Federal Reserve thinks getting approved for a new credit card recently got tougher. But since communicating in easy-to-understand language just isn’t the central bank’s style, the Fed didn’t come out and say so in exactly those words.
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Can Fed rate cut save Christmas?

Jeremy Simon

While consumers are dreaming of a white Christmas, retailers are thinking black — as in a profitable holiday shopping season. But if a recent item from CNNMoney.com is correct, the second Federal Reserve interest rate cut of 2007 may not be enough to give retailers the sales lift they need this year.
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