"In a provocative assessment of the current political landscape, former White House Communications Director Anthony Scaramucci claims President Donald Trump has entered a "full nihilism mode," evidenced by a recent proposal to cap credit-card interest rates at 10%. Speaking on his podcast, The Rest Is Politics US, Scaramucci characterized the move as a "hard-left populist" maneuver that aligns more closely with democratic socialists than traditional Republican orthodoxy."
"By proposing a 10% cap on bank and credit card rates, the founder of fund-of-funds SkyBridge Capital argued Trump is adopting an approach typically championed by figures like Elizabeth Warren or Bernie Sanders. "This is a hard-left populist thing to do," he said, though he was quick to point out Trump lacks the unilateral authority to implement such a change. He explained such a cap would require congressional approval and would have to navigate the complex regulatory hurdles of the Senate Banking Committee."
Anthony Scaramucci claims President Trump has entered "full nihilism mode" by proposing a 10% cap on credit-card interest and by adopting a hard-left populist posture. Scaramucci likened the proposal to policies championed by democratic socialists and suggested the move resembled communications with New York City Mayor Zohran Mamdani, who has texted with Trump since their November White House meeting. Scaramucci noted the cap would require congressional approval and regulatory clearance through the Senate Banking Committee. Credit-card interest rates surged since 2022 due to Federal Reserve rate hikes and additional fees charged by card companies, creating a record gap in 2024.
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