Post #67283 by commonone on the US Policy board

Please be patient and understanding when interacting with others, and avoid getting frustrated or upset if someone does not respond to your posts or if a discussion does not go as you expected. Remember that everyone is entitled to express their own perspectives. Furthermore, even when you don't entirely agree, try to benefit in some way from it.

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lbaby1: If you limit credit card interest to 10%, a lot of people won't be able to get credit cards. Especially poor people.

An analyst from JPM addressed this today. With a 10% cap, “there would likely be a significant reduction in credit offered... so this would be a de facto monetary tightening. What would be the analogous number of rate hikes? ... I am not sure, but feels like it would be similar to multiple rate hikes.”

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