As Powell said yesterday, the US federal budget deficit isn’t a hiring problem and it’s not even a discretionary spending problem, it’s an entitlement and interest problem. This isn’t something that can be solved with a DOGE-style chainsaw, it’s going to require a wholesale change int the system and there is no political will to do that… so we will get deficits.
This article was written by Adam Button at www.forexlive.com.
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