Source: Foundation for Economic Education
by Louis Rouanet
“On January 9, President Donald Trump called for a 10% cap on credit card interest rates — a drop from the 2025 average of 19.7%. This reflects growing political support within the fringes of both the Republican and Democratic Parties for such anti-market policies. In February 2025, Senators Bernie Sanders and Josh Hawley also introduced legislation mirroring Trump’s proposal. Supporters of price controls like to blame ‘greedy’ corporations. Trump told reporters that credit card companies ‘really abused the public.’ Unfortunately, his proposal treats symptoms while ignoring the disease, and that will ultimately harm the very consumers it claims to protect.” (01/25/26)