US Treasury Secretary Bessent says Trump has talked about a 1yr cap on card rates; profits of credit card firms need not be hit

• "Unlike the Federal Reserve I can't print Magic money.
• There are lots of rumours of China developing digital assets backed by something other than than RMB.
• Wouldn't be surprised if China works on digital assets

The remarks by Treasury Secretary Bessent about a potential cap on credit card rates indicate a proactive stance on consumer protection, which could be viewed as a move to stabilize the financial sector. While he suggests that credit card firms' profits won't be adversely affected, investor sentiment may turn cautious if such regulations appear likely. Overall, this could influence market dynamics around financial stocks and consumer credit sectors, while also feeding into broader discussions regarding regulatory approaches towards financial institutions.