Stephen Masaha

On a call with investors, MasterCard executives described the American consumer as savvy and intentional.

They're making the most of reward programs and shopping online for the best deals.

What consumers are not doing is slowing down their spending, despite surveys showing low consumer sentiment.

The company's net revenue is $8.8 billion for the fourth quarter, up 18% from the same quarter in 2024.

President Trump has been pushing for legislation to cap credit card interest rates at 10%.

MasterCard executives warn that would lead to banks cutting off many customers from credit.

The Banking Industries Association has previously said that could stifle that strong consumer spending and maybe even lead to a recession.

Stephen Masaha, NPR News.

So I think everyone's got a vision of what it's like to win the lottery in their head when they're playing.

The reality, of course, is very different.