When the Fed cuts rates it pushes short-term rates down more quickly than long-term rates, which leads to a steeper yield curve. Simply compare the falling short-term federal funds rate to the 10-year Treasury yield (the longer end of the curve), and you see that the difference between the two rates is widening.

Citi's CFO said the bank "would" and "could" not support the proposed cap.

Premium cards boomed in 2025. 2026 will bring a K-shaped market, more experiential perks, growing mid-tier cards and steadier rewards despite fee pressure.

Cory Booker (N.J.) and Tammy Baldwin (Wis.) introduced legislation Thursday to cap credit card late fees at $8. Their proposal, the Credit Card Fairness Act, would codify a March 2024 ruling from the Consumer Financial Protection Bureau (CFPB),