Borrowing up $18.2B in February
WASHINGTON — The Federal Reserve said Friday consumer borrowing rose $18.2 billion in February. That’s up from a gain of $12.7 billion in January.
The increase brought total borrowing to a seasonally adjusted $2.8 trillion, a new record.
Nearly all of the gains were in student and auto loans. Credit card debt increased $533 million in February after a gain of $1.7 billion in January.
