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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.

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Anthony Fauci. Photo: Graeme Jennings- Pool/Getty Images

NIAID director Anthony Fauci told CNN on Friday evening that if "people are not wearing masks, then maybe we should be mandating it."

Why it matters: Fauci made the comments the same day the U.S. hit its highest daily COVID-19 case count since the pandemic began.

Harris to Black voters: Casting a ballot is about honoring your ancestors

Democratic vice presidential nominee Kamala Harris speaks at a "Get Out The Vote" rally at Morehouse College. Photo: Elijah Nouvelage/AFP via Getty Images

Sen. Kamala Harris appealed to Black voters in Georgia on Friday, urging them to "honor the ancestors" by casting ballots, and again calling President Trump a "racist."

Why it matters: The U.S. saw a significant decline in African-American voter turnout between 2012 and 2016, reaching its lowest point since 2000. Higher turnout among Black Americans this year could tip the balance in favor of Democrats in key battleground states, including Georgia.

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Illustration: Aïda Amer/Axios

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