US Economy: America Is at Risk of a Market Meltdown, Warns CBO
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The US economy is at risk of a potential market meltdown, according to the Congressional Bureau Office (CBO). Rising US debt metrics are putting pressure on the US bond market, which could have severe consequences for the nation's credit rating. The debt ratio may impact the US bond market, causing yields to rise and potentially eroding the USD. CBO director Phillip Swagel warns that if America continues to increase its debt ratio, the bond market could break down, similar to the UK's economic pitfall. The US debt has already crossed $34 trillion, and if it continues to rise, it could reach $57 trillion, leading to a market shutdown. The US debt is adding another trillion every 90-100 days. The longer the Federal Reserve maintains higher interest rates, the more pressure it puts on the government's interest expense.
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