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American Express CEO says a credit card rate cap wouldn't be good for the economy [Yahoo! Finance]

American Express Company (AXP)  More Company Research Source: Yahoo! Finance
Last american express company earnings: 4/24 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.americanexpress.com
"A 10% credit card cap, what you would see is a reduction in credit cards across the United States," American Express ( AXP ) CEO Stephen Squeri told Yahoo Finance by phone on Friday. "A lot of people would not be getting credit cards. You would see [credit] line reductions. And listen, the American economy runs on credit, and so you would see a small business slowdown. It's not the right answer." President Trump this month wrote on Truth Social that interest rates on credit cards should be limited to 10% for one year, starting Jan. 20. The date has come and gone, with no clear insight into the Trump administration's next move. "It would be an economic disaster, and I'm not making that up because our business … we would survive it, by the way," JPMorgan CEO Jamie Dimon said at the World Economic Forum last week. Dimon added that the cap would be "drastic" and would cut credit access for 80% of Americans. Read more: What Trump's 10% cap on interest rates would mean for credit ca [Read more]
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Stockreport

American Express CEO says a credit card rate cap wouldn't be good for the economy [Yahoo! Finance]

American Express Company  (AXP) 
More Company Research Source: Yahoo! Finance
Last american express company earnings: 4/24 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.americanexpress.com
"A 10% credit card cap, what you would see is a reduction in credit cards across the United States," American Express ( AXP ) CEO Stephen Squeri told Yahoo Finance by phone on Friday. "A lot of people would not be getting credit cards. You would see [credit] line reductions. And listen, the American economy runs on credit, and so you would see a small business slowdown. It's not the right answer." President Trump this month wrote on Truth Social that interest rates on credit cards should be limited to 10% for one year, starting Jan. 20. The date has come and gone, with no clear insight into the Trump administration's next move. "It would be an economic disaster, and I'm not making that up because our business … we would survive it, by the way," JPMorgan CEO Jamie Dimon said at the World Economic Forum last week. Dimon added that the cap would be "drastic" and would cut credit access for 80% of Americans. Read more: What Trump's 10% cap on interest rates would mean for credit ca [Read more]
IMPACT SNAPSHOT
EVENT TIME:
AXP
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS