Go to the Federal Reserve Website httpwwwfederalreservegov A

Go to the Federal Reserve Website http://www.federalreserve.gov. After going to the Economic Research and Data , access the most recent statistical Releases and the consumer credit. Access the Historical Data and then Consumer Credit and compare trends in the cost of consumer credit provided by the commercial banks over the past three years?

Solution

Consumer credit is the credit that is incurred by the customer to purchase goods and services,

The data suggests that there has been steady increase in consumer credit

In 2012 the credit growth was 6.1 %

in 2013 the credit growth was 6.0 %

In 2014 the credit growth was 7.0%

The data released was for commercial banks and the credit growth data is released for commercial banks.