New York Fed: 'Credit Card Banking'
March 19, 2025
March 19, 2025
NEW YORK, March 19 (TNSres) -- The Federal Reserve Bank of New York issued the following staff report (No. 1143) in March 2025 by Itamar Drechsler, Hyeyoon Jung, Weiyu Peng, Dominik Supera, and Guanyu Zhou entitled "Credit Card Banking."
Here are excerpts:
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Credit card interest rates, the marginal cost of consumption for nearly half of households, currently average 23 percent, far exceeding the rates on any other major type of loan or bond. W . . .
Here are excerpts:
* * *
Credit card interest rates, the marginal cost of consumption for nearly half of households, currently average 23 percent, far exceeding the rates on any other major type of loan or bond. W . . .