US Consumer Credit Surges to Record $5.19 Trillion in July

Total consumer credit jumped $18.1 billion in July to $5.19 trillion, the largest monthly gain since March 2025, marking 13 consecutive monthly increases. Revolving credit (credit cards) hit record $1.36 trillion; non-revolving (auto, student loans) reached all-time $3.83 trillion. Rising debt amid persistent inflation pressures the Fed's inflation-fighting case and influences PCE expectations ahead of September rate decision.