US consumers are "fighting" inflation with more debt. Total consumer credit surged +$18.1 billion in July, to a record $5.19 trillion.

BREAKING: Total consumer credit surged +$18.1 billion in July, to a record $5.19 trillion.
This follows +$14.6 billion in June and marks the 13th consecutive monthly increase.
Revolving credit, which includes credit cards, jumped +$2.8 billion, to a record $1.36 trillion.… pic.twitter.com/UB2ey29V5l
— The Kobeissi Letter (@KobeissiLetter) September 20, 2026

New York Fed says credit-card delinquencies remain elevated

https://libertystreeteconomics.newyorkfed.org/2026/08/how-distressed-are-consumers-reconciling-diverging-credit-card-delinquency-measures/

The New York Fed says current delinquency measures remain relatively stable, so the data do not support claiming that consumers are suddenly collapsing. But new credit-card and auto-loan delinquencies remain elevated.

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