Reported about 9 hours ago
The proposed tax bill could significantly increase the national deficit, raising concerns among economists about its adverse effects on the US economy. Jennifer Lee, a senior economist at BMO Capital Markets, warns that soaring debt and interest costs may hurt consumer spending and complicate the Federal Reserve's future decisions, particularly regarding interest rates. The ongoing fiscal challenges are expected to contribute to higher borrowing costs for consumers, posing risks to the economy in the long term.
Source: YAHOO