Wall Street Warns Trump Over Fed Independence and Credit Card Cap

Wall Street executives and financial leaders have warned President Donald Trump that his recent moves targeting the Federal Reserve and the credit card industry could destabilise the US economy and global markets.

Banking leaders have pushed back against Trump’s proposal to cap credit card interest rates at 10%, arguing it would restrict access to credit for higher-risk borrowers and disrupt the lending market. While supporters say the cap could save consumers billions, industry groups warn it may reduce credit availability and push borrowers toward more expensive alternatives.

Concerns have also intensified over Trump’s attacks on the Federal Reserve and criticism of Chair Jerome Powell. Financial leaders, including major bank executives, have stressed that political interference risks undermining the Fed’s independence, fuelling inflation and weakening confidence in U.S. monetary policy. Analysts warn that continued pressure on the central bank could ultimately threaten the dollar’s global standing and increase market volatility.

Kursiv Uzbekistan also reports that Bitcoin moved toward a potential breakout above $92,000 on Tuesday as U.S. stocks hit fresh record highs following cooler-than-expected inflation data.