During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
AI’s surging power demand will continue for years.
The U.S. Federal Reserve’s Open Market Committee routinely offers “forward guidance” – an indication of how interest rates might change in the future – after its meetings.
The U.S. global trade deficit leaped up 42.2 percent in May, year on year, to $77.6 billion, a 14-month high, driven by a record high value of imported capital goods, the commerce department reported.
Although the U.S. jobless rate held steady at 4.2 percent last month, the number of Americans no longer looking for work because they have no expectations of finding a job is rising, according to a Newsweek analysis.
Computer chips and AI were back in vogue last week.
U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu’s illegal Iran War that they launched against Iran on 28 February has inflicted severe economic damage across the globe, and now, with President Trump escalating the war, a very bad economic situation has – and will – become much worse.
During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.