deficit

Economist Peter Schiff has sharply criticized Treasury Secretary Scott Bessent for downplaying the role of President Donald Trump's tax cuts in the recent Moody's downgrade of the U.S. sovereign credit rating, instead pinning the blame on the Joe Biden administration. What Happened: Schiff's...

The U.S. trade deficit widened sharply to an all-time high in March as American companies rushed to import foreign goods ahead of President Donald Trump‘s sweeping new trade tariffs. This move triggered a rush of orders and skewed international trade flows. According to data released Monday...

With the ongoing shifts in the markets, the U.S.’s reliance on foreign capital is reversing, leading to lower asset prices. However, its unique position as the issuer of the world’s reserve currency provides a significant advantage in navigating this shift, according to an expert. What...

Economist Craig Shapiro has taken a jibe at President Donald Trump after the administration hinted at a deal with China amid the ongoing market turmoil. He suggested that Trump was caving on all his promises and proposed policies. What Happened: Shapiro, a macro strategist at the Bears Trap Reports...

Economist Craig Shapiro has expressed skepticism regarding President Donald Trump’s trade policies, expressing concerns about tariff revenue not being able to fund the trade deficit, which is likely to widen after his proposed tax cuts. This is particularly following the exemption of...

After President Donald Trump unveiled the tariffs on all its trading partners on Wednesday, this economist recalled his analysis of tariffs being used to fund tax cuts. Meanwhile, another senior economist highlighted other possible implications of the tariff announcements. What Happened: Craig...

Treasury Secretary Scott Bessent discussed the importance of lowering debt and deficit while outlining President Donald Trump‘s economic plan during the latest All-In Podcast episode on Wednesday. What Happened: Despite describing himself as a “deficit hawk,” during the chat with...

Billionaire hedge fund manager Leon Cooperman says he’s taken a “conservative view” for his portfolio amid President Donald Trump‘s second term and a long-term high interest rate environment. Cooperman appeared on CNBC on Monday to discuss the macroeconomic environment...

The next U.S. administration "must grapple with widening budget deficits," warned Moody's Ratings in a report published Tuesday. But no matter who is elected on Nov. 5, whether it’s ex-President Donald Trump or current Vice President Kamala Harris, the situation is dire, Moody’s...

California Governor Gavin Newsom, a Democrat, has suggested reducing budgets for public safety, including prisons and law enforcement, amid fiscal challenges and a focus on equity-driven climate objectives. The budget proposed by the California Democrat in May acknowledges the need for “...

As Treasury yields continue their upward trajectory, reaching levels not seen since November 2023, the impact on the U.S. mortgage market and potentially for the broader economy is becoming increasingly pressing. On Wednesday, the yield on the 30-year Treasury note climbed 5 basis points, reaching...

International Monetary Fund (IMF) deputy chief Gita Gopinath raised concerns about the United States’ burgeoning public debt, emphasizing the urgency of reducing the federal deficit from its current 7% of GDP. “The U.S. is running [a] very large deficit for a country with a strong...

Edward Snowden, the former U.S. intelligence agent turned whistleblower, recently took a dig at Janet Yellen, the U.S. Treasury Secretary, for her contradictory statements on the nation’s financial priorities. What Happened: Snowden, on Thursday, shared a 6-month-old news headline from Sky...

Billionaire investor and former hedge fund manager Ray Dalio expressed significant enthusiasm about the potential of artificial intelligence Friday while also cautioning about its broader socioeconomic implications. In an interview on CNBC’s “Squawk On The Street,” Dalio...

Moody's Investors Service has downgraded the outlook on the U.S. government's ratings from stable to negative. The Friday decision underscores growing apprehensions about the nation's ability to manage its finances in an environment of escalating interest rates and substantial...