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Data: Reproduced from a Magnify Money chart; Chart: Axios Visuals

The Fed hasn't raised interest rates this year and isn't expected to do so any time soon, but interest rates on credit cards are still increasing.

Why it matters: U.S. card holders are expected to pay $122 billion in interest charges in 2019. That's 12% more than what they paid in 2017 and 50% more than what they paid as recently as 2014.

By the numbers:

  • Credit card interest rates tend to move in concert with U.S. overnight interest rates, controlled by the Fed.
  • LendingTree's Magnify Money website found that between December 2015 and December 2018, the Fed had increased rates by 2%, while credit card interest rates had increased by 2.16%.
  • The average credit card assessed interest rate is now 16.91%. It was 13.14% in the first quarter of 2014.

Go deeper

Louisiana braces for 3rd hurricane in 2 months as Tropical Storm Zeta nears

Municipality workers clean the streets of garbage in Playa del Carmen, Mexico, on Tuesday that was left by Zeta, which struck the Yucatan Peninsula as a Category 1 Hurricane a day earlier — causing no major damage to infrastructure. Photo: Medios y Media/Getty Images

Tropical Storm Zeta is expected to strengthen back into a hurricane and bring dangerous storm surge conditions to parts of the northern Gulf Coast on Wednesday, per the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Federal Declaration of Emergency in a letter to President Trump on Tuesday, ahead of the storm's expected arrival south of New Orleans.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.
1 hour ago - Technology

Trump's campaign website hacked

A screenshot of the Trump campaign website after it was hacked.

The Trump campaign website briefly went down and its "About" page was modified after hackers attacked the site Tuesday evening.

The big picture: With just seven days before the election, the hackers emulated the FBI and declared on the "About" page that: "this was seized. the world has had enough of the fake-news spreaded [sic] daily by president donald j trump. it is time to allow the world to know truth." Two addresses linked to the cryptocurrency Monero appeared on the site. Trump campaign spokesperson Tim Murtaugh in a statement said no sensitive data had been exposed in the attack.

Go deeper: Twitter hack raises fears of an unstable election