The number comes from the Fed's Consumer Credit Report released today.

Consumer Credit April 2020

Concumer Credit April 2020

The above shot is from the credit report. I added the yellow highlights.

The lead chart is from this Tweet.

That is from Bloomberg, but I cannot match it in Fred. This is what Fred depicts.

Change in Total Consumer Credit Owned

Total Consumer Credit Owned april 2020

Using numbers from the Fed Table: 4,202.0 - 4,133.7 = 68.7


Other than the obvious spikes, the charts are the same. I believe the spikes are related to reclassification of student debt and other changes in reporting of Student Loans. 

Change in Total Consumer Revolving Credit 

Change in Revolving Credit April 2020

The change in revolving credit is -58.32 billion. That also matches the Fed report which has it at 1,078.1 - 1,019.8 = 58.3 Billion. 

Total Revolving Credit

Total Revolving Credit  April 2020

The above chart provides a needed perspective on the Fed report which shows revolving credit fell an annualized 64.9%. 

Clearly, consumers have a lot more rebalancing to do. Equally clearly, the Fed wants to prevent just that.

$68.7 billion is an unprecedented decline, but what's coming (or doesn't) is more important.


Consumer Credit Up 3.1%, Revolving Credit Unexpectedly Declines

After a blistering May, revolving credit fell 0.2% in June as overall credit continued its upward march.

Consumers Turn Frugal On Cards but Nonrevolving Credit Up Sharply

Total consumer credit rose $19.9 billion in August but credit card debt fell after a sharp rise last month.

Consumer Credit +7.5%, Revolving Credit +11.5%, Non-Revolving +6.25% YoY

Year-over-year expansion of consumer credit continues unabated. It's the only way people can "afford" to buy things.

Amazing Revisions and Alleged Thrifty Consumers

In its latest report, the BEA revised spending down and income up. As a result, the savings rate rose.

Families Go Deep in Debt to Stay Middle Class: Revolving Credit Jumps 11.2%

The Fed's consumer credit report shows a jump in total credit and an even bigger jump in credit card debt.

Rare Territory: Consumer Prices On the Decline

The CPI declined 0.4% month-over-month in March, with gasoline and energy leading the way.

"Ultra-FICO" to Boost Credit Scores Giving Millions More Access to Credit

Just in the nick of time not: Fair Isaac is launching a new type of credit score that will give millions more credit.