Trump's proposed 1-year 10% cap on credit card interest rates just erased $100B from the stock market, but it's promising to free up around $100B in annual consumer interest payments and boost disposable income for consumer spending. The move would curb the current ~20-30% average credit card rates, which Trump said abused consumers. In the short term, this solution could provide immediate relief to households with likely mild upward pressure on inflation through increased demand/liquidity. In the longer term, banks already warned they would tighten access to credit, potentially curbing consumer spending. If this is just a retaliatory threat, that will remain to be seen. Another question is whether the Trump administration can find the legal grounds to make the 1-year 10% cap a reality, starting January 20. Overall, we see a low direct impact on Truflation's real-time CPI inflation. The focus remains on broader monetary trends for now, with strong disinflationary pressures evident in our price data this January, especially in the rents and owned housing sectors.