Investing to Wealth

Consumer borrowing fell last month; fewer Americans used their credit cards to make purchases. The New York Times reports consumer credit decreased at an annual rate of $7.48 billion in February or 3.5%. This is far below Wall Street expectations of a $1 billion decline. The report by the Federal Reserve showed that the decline was led by a drop in credit and charge cards. These figures fell at an annual rate of $7.8 billion or 9.7%. It’s the steepest percentage drop since 1978 and the largest in terms of dollars since record-keeping began in 1968. For more on ...