Tag: interest rates
Unlike higher gas prices, which hurt almost everyone, higher borrowing costs have an uneven impact. In September 2024, then presidential candidate Donald Trump promised: “we’re going to put a temporary cap on credit card interest rates … at around 10 percent.” Yet, today, the Bankrate Monitor National Index shows the average credit card APR at…
The recession that economists predicted has never materialized. Unemployment has been under 4 percent for more than two years, a low more characteristic of the go-go 1960s than modern times. But although consumer sentiment, as measured by the University of Michigan’s monthly survey, is improving, it is still mired in the same territory that it…
