Federal Deficit

Macro

Treasury Secretary Bessent Defends Tax Cuts as Debt Servicing Hits $1 Trillion, Markets Price Rate Hikes

Federal interest payments now second-largest spending category while FY2026 deficit tracks toward $2.1 trillion despite tariff revenue gains.

7 min read ·
Macro Markets

Trump Tariffs to Add $1.1 Trillion to Deficits as Inflation Hits 3.4%, Bond Markets Reprice Fiscal Risk

CBO assessment reveals replacement tariffs worsen federal finances while compounding war-driven inflation, creating a fiscal-monetary trap as 30-year Treasury yields hit 5.2%.

8 min read ·
Breaking Geopolitics Macro

Supreme Court Voids Executive Tariff Power, Cutting Average US Rate From 17% to 9%

6-3 ruling in Learning Resources v. Trump invalidates $1.4 trillion IEEPA tariff regime, forcing immediate duty termination and shifting trade authority back to Congress.

8 min read ·