Federal Reserve

US Politics Daily@uspoliticsdaily

Sen. Elizabeth Warren said Sunday she is prepared to work with President Trump on a 10% limit for credit card interest, now that Democrats will control Congress. She says her bill is already prepared.

Trump first pushed the idea in January, when Republicans controlled Congress and several GOP leaders resisted it. Banking groups strongly oppose the plan, warning it would limit access to credit.

Federal Reserve data put the average rate on card accounts that were charged interest at 22.36% in the third quarter of 2026.

Indian Entrepreneur@indianentrepreneur

The tech giants known as the Magnificent 7 wiped out more than $1 trillion in value between them on Thursday. The slide came after the US midterms and reflects worries over AI spending and rising prices.

Much of the AI buildout runs on borrowed money, so pricier credit could slow it. Tensions with Iran may keep oil expensive and push the Fed toward higher interest rates, while the midterm outcome is expected to slow data centre construction.

Investors will now split AI firms into those with existing data centre capacity and those facing legislative and borrowing hurdles.