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Proposed legislation could affect credit card rewards in the US — here’s everything you need to know

Proposed federal legislation moving through Congress has the potential to significantly alter — if not completely eliminate — the world of credit cards that we know today. If passed, it could dramatically change the rewards ecosystem, affecting your ability to collect (and redeem) points and miles toward travel or earn cash back that can offset …

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Why ‘quantitative tightening’ is the wild card that could sink the stock market

Quantitative monetary easing is credited for juicing stock market returns and boosting other speculative asset values by flooding markets with liquidity as the Federal Reserve snapped up trillions of dollars in bonds during both the 2008 financial crisis and the 2020 coronavirus pandemic in particular. Investors and policy makers may be underestimating what happens as …

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Consumer debt tops $16 trillion as inflation fuels credit card surge

US household debt surpassed $16 trillion for the first time ever during the second quarter, the New York Federal Reserve said Tuesday.Even as borrowing costs surge, the NY Fed said credit card balances increased by $46 billion last quarter.Over the past year, credit card debt has jumped by $100 billion, or 13%, the biggest percentage …

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