A Bloomberg chart shows consumer credit is down month-over-month by the largest amount ever.

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

Consumer Credit April 2020

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

The lead chart is from this Tweet.

Holy mama! Consumer credit down -$68.7bil. pic.twitter.com/BJtuuSkIMf

— Randy Woodward (@TheBondFreak) June 5, 2020

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

Change in Total Consumer Credit Owned

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 

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

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.