U.S. consumer debt up $16.2 billion in January
WASHINGTON – Americans stepped up borrowing in January to buy cars and attend school, while staying cautious about using their credit cards.
The Federal Reserve says consumer borrowing rose $16.2 billion in January from December to a total of $2.8 trillion. That's the highest level on record.
A category that covers student loans and auto loans grew $16 billion following an $18.3 billion gain in December.
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