Economy
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Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook
U.S. debt is expected to continue soaring in the coming decades not because of excesses committed by future lawmakers, although that’s certainly possible, but because interest payments on past borrowing will increasingly dominate spending. Americans got a reminder of that outlook as the U.S. crossed a grim fiscal threshold this week, when first-quarter data confirmed
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Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
What happens when a generation is raised on economic promises that never materialize? Gen Z may want to ask their older siblings, the millennials, how that turned out, as the Great Recession of 2008—and the ensuing “jobless recovery”—left millions of altered lives, if not dashed dreams, in its wake. But as the oldest Gen Zers
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Trump says he’ll hike EU auto tariffs to 25%, jolting a world economy that really didn’t need it
President Donald Trump said on Friday that he will increase the tariffs charged on cars and trucks from the European Union next week to 25%, a move that could jolt the world economy at a fragile moment. Trump said in a social media post that the EU “is not complying with our fully agreed to
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CEOs got an 11% pay raise in 2025. Workers got 0.5%
CEO pay is on the rise in 2025, and the pace of growth is leaving the average worker far behind, according to a new report. The leaders of some of the world’s biggest companies got an 11% pay bump last year, while the average worker globally got a measly 0.5% increase—that means CEO pay grew
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By staying on the Fed’s board, Jerome Powell could be doing incoming Chairman Kevin Warsh a huge favor
Jerome Powell’s continued presence on the Federal Reserve’s board of governors after his term as chairman ends might be awkward for his replacement, but could also be a big favor for Kevin Warsh. On Wednesday, Powell diverged from long-standing tradition and announced he will remain on the board until the investigation into renovation of the
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‘Cut up the credit cards:’ Congress is getting brutal about ‘embarrassing’ $31 trillion national debt
The value of debt held by the public has officially surpassed the size of the U.S. economy, and members of Congress are increasingly sounding the alarm over the fiscal trajectory of their nation. As of March 31, debt held by the public stood at $31.27 trillion, while nominal GDP over the prior 12-month period was
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‘The national debt is now larger than the economy’: Watchdog marks 100% of GDP milestone for $39 trillion burden
The United States has crossed a grim threshold: the national debt now exceeds the size of the entire American economy. As of March 31, debt held by the public stood at $31.27 trillion, while nominal GDP over the prior 12-month period was an estimated $31.22 trillion — pushing the debt-to-GDP ratio to 100.2%, according to
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For years, the risk Jamie Dimon was most concerned about was geopolitics. His answer has shifted
When Jamie Dimon is asked about the greatest risk he sees to the global economy, his answer for years has been “geopolitics.” It’s been with good reason. In the past handful of years, Russia invaded Ukraine, a major conflict broke out between Israel and Palestine, and the U.S. and Israel then launched attacks on Iran,
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U.S. GDP rebounds from lackluster end to 2025, grows at 2% rate in first quarter
The U.S. economy accelerated at the start of 2026, expanding at a modest 2% pace from January through March after recovering from last fall’s 43-day federal government shutdown. But the outlook is clouded by the Iran war. The Commerce Department reported Thursday that gross domestic product — the nation’s output of goods and services —
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The biggest jump in 3 years: gas’ effect on core inflation in March revealed
A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest rate cuts by the Federal Reserve. An inflation gauge monitored by the Fed rose 0.7% in March from February, up sharply from the previous month, the