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‘It’s just gonna get paid when it gets paid’: Balance-carrying cardholders crunched by Fed rate hikes

Por: The Hill Politics August 02, 2023

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Americans with credit card debt are caught in the crossfire of the Federal Reserve’s battle to bring down inflation. The average annual percentage rate (APR) for credit cards hit 22.39 percent during the second quarter of 2023, up 3.5 percentage points from the same period last year, according by WalletHub. . Fed rate hikes are meant to slow the economy and reduce inflation by making it more expensive to borrow and owe money. While rates on... + full article



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