Reported 1 day ago
JPMorgan CEO Jamie Dimon and BlackRock CEO Larry Fink, among other financial elites, have raised alarms about increasing budget deficits in the U.S., which they fear could lead to a significant rise in interest costs that may stifle economic growth. With U.S. deficit spending hitting 120% of GDP, and long-term Treasury yields climbing, concerns grow that the bond market may destabilize, reducing foreign interest in U.S. assets and subsequently affecting small businesses and loans. They urge a reassessment of fiscal strategies to avoid dire economic consequences.
Source: YAHOO