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  • Tighter Lending Standards to Further Constrain U.S. Consumer Spending

    From fitchratings.com

    With consumer sentiment and confidence weakened by inflation, tighter lending standards driven by regional bank stress are expected to contribute to a consumer spending slowdown, according to a new report from Fitch Ratings. “While real consumer spending was relatively strong during 1Q23, increasing at an annualized rate of 3.7 percent, it was on the back of unsustainably strong motor vehicle sales in January. This robust quarterly growth rate masks back-to-back monthly declines in February and March due to stagnant services spending growth and declines in goods spending,” said Olu Sonola, head of U.S. regional ... (full story)

Tighten lending "standards" to constrain consumer spending........

Have you ever heard of such incompetence and self-serving action(!)?

The banks want higher interest rates solely for more bank profit....and fatter compensation for the lard at the top!

The bulk of consumers are using their credit cards because they have RUN OUT OF CASH!!!!!!

The competent thing to do is raise the interest rates on corporate loans and corporate sponsored credit cards.....

.......while helping to SAVE the rest of society by LOWERING their credit card rates! After all, it is not THESE folks that need their spending restrained......unless you want them to go without food and electricity while lard asses at the top in this country live high on the hog and celebrate.

God Save Us from Our Idiot Pencil Pushers, Politicians and greedy Corporate Pigs!
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  • Posted: May 23, 2023 2:56pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 1  /  Views: 1,099