The Fed is out with their latest consumer credit results for March and the trend is fully intact: the consumer is still very weak. I’ve been banging the drum on this for months now – any swift recovery will need a sharp rebound in consumer spending. We’re just not seeing that in the data. The Fed reported a 2% decline in Q1 consumer credit and a 5.25% decline in March. There might be a few green shoots out there, but I’m not sure if these shoots will ever blossom into a flower….