Tag: rising debt
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…
But not all “high-risk” borrowers are alike, so we need a variety of responses. Policymakers and researchers have been fretting that the share of older Americans with debt has risen from 38 percent to 63 percent since 1990. Having debt, however, doesn’t have to be a bad thing. For example, households that take out a…
