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Johnson warns of 'unintended consequences' in Trump's credit card rate cap idea

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2 hours ago

House Speaker Mike Johnson, R-La., pushed back on a proposal from President Donald Trump to cap the interest that credit card companies can charge borrowers."I talked with him about it briefly yesterday," Johnson said at a press conference Tuesday. "The president is the ideas guy, and he's laser-focused on the same thing that we are. And that is reducing the cost of living.""One of the things that the president probably had not thought through is the negative secondary effect; they would just stop lending money, and maybe they cap what people are able to borrow at a very low amount," Johnson s...

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2 hours ago
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