WASHINGTON, United States — The US debt has crossed $40 trillion for the first time, underscoring the growing pressure on Washington’s finances as rising interest costs, expanding social-safety-net spending and tax policy continue to widen the gap between federal revenues and expenditures.
Tag: Interest Rates
Donald Trump Presses Fed for Lower Rates, Says US Should Pay Less
WASHINGTON, United States — President Donald Trump has renewed his criticism of the Federal Reserve’s interest-rate policy, arguing that the United States should be paying substantially lower borrowing costs despite solid economic data. Trump said Federal Reserve Chair Kevin Warsh was doing a “great job” but questioned the policy positions of other members of the central bank’s board.