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President Donald Trump has just unleashed a bold economic proposal that’s sending shockwaves through Wall Street and Main Street alike.

📢 Trump Calls for a One-Year Cap on U.S. Credit Card Interest Rates at 10% — Starting January 20, 2026

In a Truth Social post on January 10, 2026, President Trump announced he is calling for a temporary cap on credit card interest rates at just 10%, a dramatic shift from the current average rates that hover above 20%. 

This move is being framed as a major consumer affordability initiative — designed to give millions of Americans relief from crushing high-interest debt. 

🔥 What This Could Mean for Everyday Americans

📉 Lower Borrowing Costs
If implemented, average credit card APRs — which often range from roughly 17% to 36% depending on credit score and card type — could be slashed in half. 

💸 Smaller Monthly Payments
Millions of cardholders carrying balances could see significantly reduced finance charges, easing pressure on household budgets.
💪 Boost in Consumer Spending Power
With less interest bleeding out of wallets, more money stays in circulation — potentially bolstering local economies and consumer confidence.

📊 Reduced Default Risk
Lower rates = lower debt stress = potentially fewer missed payments and defaults.

🏦 What the Financial Industry Is Saying

This proposal has not yet become law, and it faces major legal and legislative hurdles:

⚖️ Trump cannot unilaterally impose the cap without Congress or regulatory authority. 

🏛️ Banks, credit unions, and industry groups warn that such a rate ceiling could:
• Reduce access to credit for higher-risk borrowers
• Force issuers to tighten lending criteria
• Lead to cancelled cards or reduced limits for millions of consumers
…potentially pushing some toward more expensive, unregulated alternatives. 

💬 Hedge-fund investor Bill Ackman called the idea a “mistake”, warning it could cut off access to credit for many Americans. 
🧠 Why This Is Such a Big Deal

✔️ Credit card interest rates have never historically been capped this low in modern U.S. financial data. 
✔️ Total U.S. credit card debt now exceeds over $1 trillion, with consumers paying tens of billions annually just in interest. 
✔️ Bipartisan bills in Congress have floated similar caps before — but none have yet become law. 

This proposal is now a top political and financial story worldwide, and every major sector — from retail banks to fintech startups to everyday cardholders — is watching closely.
🔥 If this gains traction or moves toward legislation, this could become one of the most transformative shifts in U.S. consumer finance in decades. 👀🚀

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