{"id":976726,"date":"2021-11-06T13:13:56","date_gmt":"2021-11-06T17:13:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=976726"},"modified":"2021-11-06T13:13:58","modified_gmt":"2021-11-06T17:13:58","slug":"consumer-debt-explodes-higher-as-americans-grapple-with-bidenflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-debt-explodes-higher-as-americans-grapple-with-bidenflation\/","title":{"rendered":"Consumer Debt Explodes Higher as Americans Grapple with Bidenflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fconsumer-debt-explodes-higher-as-americans-grapple-with-bidenflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=976726&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/Joe-Biden-fist-Nancy-Pelosi-after-meeeting-House-Democrats-getty-640x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">Consumer borrowing accelerated by far more than expected in September, as American households dealt with rising prices by swiping their credit cards and taking out more loans.<\/p>\n<p>Total consumer credit increased $29 billion, up from a $13.8 billion gain in August, according to data released by the Federal Reserve Friday.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Economists had been expecting a $15.5 billion gain, according to Econoday.<\/p>\n<p>That\u2019s a monthly gain of 0.7 percent, well above the decade average of 0.4 percent. Compared with a year ago, consumer debt is up 4.9 percent.<\/p>\n<p>Consumer prices rose 0.4 percent in September and were up 5.4 percent compared with the prior September.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The gain in September translates into an annual growth rate of 8.3 percent in September, a big pick up from the 3.8 percent pace in August.<\/p>\n<p>Revolving credit, which is mostly credit cards, rose 11.8 percent, which follows a 3.4 percent gain in August.<\/p>\n<p>Expansions in revolving credit can be an indicator of economic confidence and can help an economy grow. But they can also be a signal of economic distress if cash-strapped households are turning to credit to make up for income gaps.<\/p>\n<p>Nonrevolving credit\u2014which is mostly auto and student loans\u2014rose 7.2 percent. These loans were up 4 percent in August.<\/p>\n<p>The Fed\u2019s consumer credit data does not count mortgages, the biggest type of household debt.<\/p>\n<p>Consumer<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer borrowing accelerated by far more than expected in September, as American households dealt with rising prices by swiping their credit cards and taking out more loans. Total consumer credit &#8230;<\/p>\n","protected":false},"author":11,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-976726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/976726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=976726"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/976726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=976726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=976726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=976726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}