The myth of hyperinflation series #6-Consumer debt & consumptionIn my last post, I talked about the liquidity trap (Banks not lending out enough despite being flooded with cash by Fed) . For loans to households, banks tightened standards across all categories of residential real estate (RRE) loans and across all three consumer loan categories—credit card loans, auto loans, and other consumer loans—over the second quarter of 2020. Banks reported stronger demand for all categories of RRE loans and weaker demand for all categories of consumer loans.
Despite
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