Lawrence York

Why Isn't the Government Capping Credit Card Interest Rates?

Kurt Walter
I agree with you that the government should not set credit card interest rates as they shouldn't seek to set any interest rates in a free market. The fact of the matter, and the point of my commentary, was that the Fed is purportedly lowering rates to help homeowner keep their home. Indeed, if they intend to have an effect they should rather get the multiplier effect of a cut in credit card rates and actually have an impact. Like it or not the data say America by and large is a fiscal fool.