The Fed's War on Inflation Is Working

This is one of the biggest numbers we've had in a while, you know, I think it was like the second biggest jump in credit card debt that we've had. If you're getting this big jump in consumer credit, that shows you that the Fed is losing the inflation war. The way rising interest rates are supposed to fight inflation is by making it more expensive for consumers to borrow money. And if they can't borrow as much money, well then they have to borrow less and buy less.