The Fed Rate Hike and Small Business Debt
Morning in America with Markie Martin
Jay on what the Federal Reserve rate move means for small business owners carrying variable-rate debt. Credit cards, lines of credit, and SBA loans do not wait for the news cycle to settle. The increase hits the next monthly payment, and the operators most exposed are the ones already running the tightest working capital. The full segment, unedited.
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Read the full segment transcript0:45 · ~110 words
JAY ALDEBERT: Possible from credit cards to auto loan, that became more expensive. Experts say that it's going to hurt or impact Americans, particularly who rely on debt more significantly. You're talking about lower income Americans, even small business owners. If you have credit card debt, lines of credit, SBA loans, hypothetically, that do have the variable, that is an increase that you're going to see in your monthly payment.
ANCHOR MARKIE MARTIN: Yes, and I'm adding to your monthly payments that increase in interest. It's not just some consumers who probably aren't too thrilled about this rate hike. President Trump himself, as you noted a moment ago, not too happy. He nominated Fed chair, Warsh, hoping that Warsh should bring interest rates down. This was the opposite.