US Consumer Borrowing Rises on Credit Cards, Non-Revolving Debt.

Consumers; Consumption (Economics); Debt; Consumer credit; Credit cards; Credit; Student loans; Student loan debt; Loans

(Bloomberg) -- US consumer borrowing rose in September, reflecting modest growth in debt like credit cards and car loans. Read More: Student Loan Borrowers Paid Off Billions Before Interest Restart In an effort to tame inflation, Fed policymakers have rapidly increased interest rates, which has made it more expensive and difficult for Americans to borrow with credit cards and take out auto loans. A report earlier Tuesday showed US households increasingly tapped their credit cards in the July-to-September period, marking the eighth straight quarter of year-over-year increases, according to data from the New York Fed. Credit-card balances are now $154 billion higher than they were a year ago, the largest annual increase since the bank began tracking the data in 1999. [Extracted from the article]

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