Fed rate cuts were supposed to help ease U.S. debt costs, but it’s not looking good so far

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Last fiscal year, the interest expense on U.S. debt was $950 billion, up 35% from the prior due mostly to higher rates.

https://fortune.com/2024/10/13/us-debt-interest-expense-fed-rate-cuts-budget-deficits-treasury-bond-yields/

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