One month ago, not long after we warned that consumer credit was about to get much tighter in the aftermath of one of the most depressing Senior Loan Officer Opinion Surveys, which saw near-record tightening in lending standards coupled with a historic plunge in credit demand, we observed that – as one would generally expect – growth in US credit card debt had ground to a crawl, as revolving credit rose by just $5 billion, down sharply from the $12.8 billion in January, down from the $13.7 billion LTM average, and the lowest single increase since April 2021. https://www.activistpost.com/2023/05/consumer-credit-shocker-credit-card-debt-explodes-at-2nd-fastest-pace-on-record-just-as-rates-hit-all-time-high.html