President Donald Trump announced Friday that he wants to impose a temporary federal cap on credit card interest rates. In a Truth Social post, Trump said his administration will move to limit credit card interest rates to 10% for one year,

President Trump called for credit-card interest rates to be capped at 10% for one year in his latest attempt to address voter concern about the stubbornly high cost of living.“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%,