And as the mountain of debt keeps piling up, and the government’s budget deficit remains massive, some bond traders are now joining politicians in decrying the government’s ever-growing financial obligation.
Those bond traders are seemingly up in arms over the government’s gaping budget deficit — something that occurs when the government’s spending outstrips revenues — which currently stands at roughly $67 billion so far for the current fiscal year.
For the full 2023 budget year, the Congressional Budget Office estimated that the deficit stood at a staggering $1.5 trillion.
How do we manage the budget deficit?
Our interest rate team is looking at the 10-year (US Treasury) yield to be closer to 4% than 5% next year.
Persons:
”, Jerome Powell, Bell, Joe Quinlan, It’s, it’s, what’s, You’d, Powell, ” Powell, they’re
Organizations:
CNN Business, Bell, DC CNN, Treasury Department, Congressional, Office, Federal, Merrill, Bank of America Private Bank, Treasury, Spelman College, US Labor Department, Institute for Supply Management, US Commerce Department, University of Michigan
Locations:
Washington, Atlanta