Source: Cato Institute
by Nicholas Anthony
Former President Donald Trump has tried to position himself as the voice for financial freedom on the campaign trail, but his latest proposal to restrict credit card interest rates seems to be something out of left field. Last night in New York, Trump said, ‘While working Americans catch up we’re going to put a temporary cap on credit card interest rates we’re going to cap it at around 10 percent. We can’t let them make 25 and 30 percent.’ The proposal comes as a bit of a surprise. On one hand, it’s possible the proposal came from his running mate: Senator J.D. Vance (R‑OH). … Perhaps instead he borrowed the idea from Vice President Kamala Harris. But this would have been an odd choice because Harris came under considerable criticism for proposing price controls as part of her economic agenda.” (09/19/24)
https://www.cato.org/commentary/trumps-latest-credit-card-interest-rate-caps