Jamie Dimon says U.S. should impose Trump's credit card rate cap in Vermont and Massachusetts

Jamie Dimon, CEO of JPMorgan Chase, made a significant proposal regarding credit card interest rate caps in the U.S. He advocates for testing the proposed cap by former President Trump in Vermont and Massachusetts. This suggestion aims to alleviate the financial burden on consumers, particularly those struggling with high-interest rates. The rising rates in the credit card market have created harsh conditions for many consumers, and if this trial is implemented, it could influence national policy thereafter. Dimon's statements are garnering attention in financial markets, raising interest in the potential economic impacts of lowering rates. However, concerns from the industry are emerging regarding how a cap would affect the revenue structures of credit card firms.