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Fortune • • business
Key Points:
- Anthony Scaramucci highlighted the radical nature of Trump's proposed 10% cap on bank and credit card interest rates, comparing it to policies typically supported by progressive figures like Elizabeth Warren and Bernie Sanders.
- The surge in credit card interest rates since 2022, driven by Federal Reserve rate hikes and credit card companies' additional charges, has led to growing financial strain on American consumers, with record numbers making only minimum payments.
- The proposed cap has bipartisan support, including from Senators Sanders, Hawley, and Warren, but faces strong opposition from banks, which warn it could reduce credit availability for financially vulnerable households.
- Trump's embrace of populist, interventionist policies marks a departure from traditional conservative ideology, drawing criticism from Republican strategist Stuart Stevens, who
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