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Consumer Card Debt Paydowns May Prove Temporary Amid Tariff and Inflation Uncertainty

  • Consumer credit decelerated in May, with credit card balances decreasing for the first time since the end of last year.
  • The reduction in card balances may be temporary due to spending plans, sticky inflation, and uncertain tariff outlook.
  • Revolving credit decreased at an annual rate of 3.2%, marking a sharp reversal from previous increases.
  • Consumers may have trimmed card balances to have additional spending power and improve credit utilization percentages.

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