Trump criminally charges Jerome Powell over Fed rates as high as 5%. Next up . . . cancelling all credit cards with interest rates above 10%?

Photo above - upon learning that he might be facing charges over high credit card interest rates, Jamie Dimon (Chase Bank CEO) is defiant: "I'll never serve a day. Bwaaaahh . . . "

First off, I do NOT expect Fed Chairman Jerome Powell to be sentenced to Alcatraz for his role in high mortgage rates. Alcatraz is closed (I’ve toured it). And besides, Fed interest rates as high as 5% would probably only mean a warning and a $500 fine. Nevertheless, here we are: Trump is trying to divert attention from ICE shootings the national debt, and the massacre of Iranian freedom protestors. He's taking his beef with Powell into extra innings (see link below).

Everyone in the media who is fronting with headlines about a Powell criminal investigation might be a gullible moron (irony alert here).

Know on to the more serious situation: tossing the CEOs of American Express, Chase, and Bank of America in jail for credit card interest rates. Well, not jail probably. The banks would probably just cancel the cards en-masse in response to price controls. To be sure, card rates ARE quite high – the average is 25%. My best guess is less than 10% of cardholders have rates less than the 10% APR max which Trump would allow. Post your own APR below, for fun. (I'm at 13.99%)

All across social media there is exultation from cardholders with crappy FICO scores. They imagine that their 2x.xx interest rates are magically going to drop to 9.99%. You can’t convince them otherwise. Not even by pointing out the historical result of price controls. Things don't get cheaper - they disappear entirely. If you doubt me, imagine what a price cap on new homes of $100,000 would entail. An immediate cut in listing prices? Unlikely - probably an immediate de-listing of millions of properties. Nobody is going to sell their house for 100 grand. No bank is going to flood the market with 10% credit cards.

It's 2026. Mid-term elections are coming up. There are a lot of voters promising to pull the democrat lever in November democrat. They are energized by amateurish ICE tactics, healthcare subsidy cuts, and the loss of EV tax rebates. They could care less about the $38 trillion national debt. But Trump is hoping to turn the tide with price controls on credit cards. In the weeks before election day he can rant to his base that democrats are keeping everyone's interest rates at 25%. Stop laughing . . . this is absolutely how elections work.

I’m just sayin’ . . .


https://www.msn.com/en-us/news/politics/just-in-fed-chair-jerome-powell-facing-criminal-charges-from-trump-s-doj-as-a-consequence-for-interest-rates/ar-AA1U19zz?ocid=msedgntp&pc=HCTS&cvid=6964dfbde7ad472b81f2eedef45654b8&ei=43

Just in: Fed Chair Jerome Powell facing criminal charges from Trump’s DOJ as a ‘consequence’ for interest rates