Philadelphia Fed paper highlights bounce-back in credit card spending
When credit card spending dropped in the US following the financial crisis, there was speculation consumers would turn to other payment instruments as they adopted a more conservative lifestyle, but normal service has since resumed, according to a discussion paper published by the Federal Reserve Bank of Philadelphia today (July 3).
In Trends and Preferences in Consumer Payments: Updates from the Visa Payment Panel Study, Susan Herbst-Murphy analyses data from the Visa Payment Panel Study
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