Fed's Mishkin cites concern on credit-card terms

(Reuters) - Not only is there an issue with low introductory rates that can suddenly accelerate, but there is a perception that "the presence in the market of terms unfavorable to consumers appears to some to indicate that the market is not fully competitive."




Mishkin's testimony was entirely about credit cards and included no mention of current U.S. economic conditions or interest-rate policy.


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