Saturday, January 10, 2026 at 4:05 AM
President Trump has proposed a one-year cap on credit card interest rates at 10%, criticizing credit card companies for abusing the public amid rising interest rates.
President Trump’s call for a cap promises to save Americans billions in interest but also can lead to tightened access to credit.
Bank executives are tiptoeing around President Trump’s call to temporarily cap credit-card interest rates at 10%, opposing the idea while making sure not to antagonize the White House.
President Trump’s affordability push ahead of the midterm elections has turned some of the financial sector’s darlings into punching bags.
Speaking at an economics conference in suburban Boston, Bowman said that even after three quarter-point rate cuts in late 2025, the Fed’s interest-rate setting is still “moderately restrictive,” meaning that Fed policy is still leaning against inflation and economic growth.
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