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Banks say a proposed 10% cap on credit card interest rates would result in fewer credit card accounts for Americans and a hit to the U.S. economy.
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"The Fed has got to get the rate down to 3% — I think that is closer to equilibrium," BlackRock's chief investment officer of global fixed income said.
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White House officials have explored a vast array of ideas as the president looks to unfurl a housing affordability plan at an economic conference this month.
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A Justice Department probe of the Federal Reserve marks the latest escalation in the Trump administration's effort to bend the independent central bank to the president's will.
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A Push to Expand the Rights of Immigrants in Defiance of Trump The New York TimesNew Jersey lawmakers send governor pro-immigrant bills as ICE faces nationwide scrutiny PoliticoNJ anti-ICE bills win key votes following fatal Minnesota shooting New Jersey MonitorNew Jersey lawmakers pass 3 bills designed to protect immigrants from ICE raids WHYY
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SoFi CEO says Trump's proposed credit card cap would drive people to personal loans, and that's good for SoFi Business InsiderCapital One drops 6%, other banks hit after Trump calls for credit card rate cap CNBCTrump wants to cap credit card interest rates at 10%. Would that work? Al Jazeera
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AbbVie reached a deal with the Trump administration on drug prices in exchange for being exempted from tariffs and future price mandates.
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Capital One shares sank Monday after Trump called for a 10% cap on credit card rates, a major profit driver for the company.
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The deal would cut tariffs and include a commitment from Taiwanese Semiconductor Manufacturing Corporation, the island's chip giant, to build more manufacturing plants in the United States.
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Capital One drops 6%, other banks hit after Trump calls for credit card rate cap CNBCFinancial stocks fall as Trump's credit card rate cap plan rattles investors ReutersSoFi CEO says Trump's proposed credit card cap would drive people to personal loans, and that's good for SoFi Business InsiderTrump Says Credit Card Firms Violate Law If Rates Not Capped Bloomberg.com
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S&P 500, Dow climb to closing records as traders look past Fed independence risk: Live updates CNBCStock market today: Dow, S&P 500 eke out records, gold soars after Trump amps up fight with Fed, Powell Yahoo FinanceCNBC Daily Open: Powell probe rattles Washington, but Wall Street shrugs CNBCStocks and Treasuries calm after Fed indictment jitters, dollar weakens Reuters
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With credit card interest rates near modern highs, President Trump says he wants to cap the rates for one year.
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Precious metal prices surge as conflict intensifies
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A rise to record highs in gold and silver after another tumultuous weekend for news headlines tied to Trump and the Federal Reserve, and to growing tensions in Iran, Venezuela, and Greenland, shows that a commodities supercycle is "firmly intact."
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There's more to the probe aimed at the Federal Reserve chair than meets the eye.
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The "sell America" trade may be the worry of the day, but some analysts say it's not the worry of the year.
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It's not clear how the inquiry into Federal Reserve Chair Jerome Powell was approved, but housing regulator Bill Pulte met with President Donald Trump at Mar-a-Lago, and shared a prop resembling a "wanted poster" he had made up featuring Powell.
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