Economic uncertainty + high interest rates continue to persist, US consumer credit growth slows down

The growth rate of consumer credit in the United States has slowed down, with total consumer credit increasing by $18.1 billion in January, down from $37.1 billion in December of last year. High inflation and borrowing costs are affecting household finances, while rising unemployment is softening the labor market. Federal Reserve Chairman Jerome Powell stated that despite the uncertainties facing the economy, the current situation remains good, and interest rates will remain stable. The ratio of minimum credit card payments has reached a record high, and the delinquency rate on auto loans has hit its highest level in 30 years