Tax Cuts in Hand, Americans Reduce Credit Card Debt

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Title : Tax Cuts in Hand, Americans Reduce Credit Card Debt
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news-today.world | Consumer credit grew less than expected in March, as Americans reduced the amount of credit card debt they carry.

The Federal Reserve said consumer credit in March grew at a seasonally adjusted annualized rate of 3.6 percent, or $11.6 billion. Economists had expected $15.2 billion, according to Bloomberg.

Credit card debt declined three percent, the second monthly decline in a row. This could be an unexpected result of the tax cuts.

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