President Trump: I'm asking Congress to cap credit card interest rates at 10% for one year

Summary

President Donald Trump speaks at the World Economic Forum in Davos and proposes a one-year 10% cap on credit card interest rates, citing high industry profit margins and consumer burden. He also promotes U.S. crypto leadership through the GENIUS Act and pending market-structure legislation, and says government-backed institutions will buy up to $200 billion in mortgage bonds to lower interest rates. He criticizes Fed Chair Powell, expects to name a new Fed chair, and emphasizes protecting existing homeowners' home values.

• Trump asks Congress to cap credit card interest rates at 10% for one year.
• He says credit card companies charge 28%-32% and have excessive profit margins.
• He promotes U.S. crypto leadership and mentions Bitcoin alongside market-structure legislation.
• He says government-backed institutions will purchase up to $200 billion in mortgage bonds.
• He criticizes Fed Chair Powell as too late on interest rates and promises a new Fed chair.
• He notes the 30-year mortgage rate recently fell below 6%.
• He says he wants to protect existing homeowners and not hurt home values.