Finance
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U.S. government is spending $88 billion a month in interest on national debt—equal to spending on defense and education combined
The problem with an increasing debt burden is that it costs more to maintain it: This is precisely the issue with which the U.S. Treasury is wrangling at present. As total U.S. national debt ticks over $39 trillion, the interest payments on that value are eye-watering: $529 billion for the first six months of the
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Why Trump’s 2027 budget could be the document that triggers a debt crisis
America’s long-term budget outlook just got a lot scarier. If the bond vigilantes are already circling, and if they’re looking for more reasons to dump U.S. bonds and push Treasury yields to crisis levels, they need do nothing more than read the newly issued Budget of the U.S. Government for Fiscal Year 2027 (starting Oct.
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The New York Times says it found Satoshi Nakamoto, the inventor of Bitcoin. Not so fast
The quest to unmask Satoshi Nakamoto, the pseudonymous inventor of Bitcoin, has been going on for more than a decade now, and resulted in some embarrassing misfires. The most notorious came in 2014 when Newsweek magazine dropped a bombshell cover story claiming the Bitcoin inventor was a 64-year-old man named Dorian Nakamoto, hiding in plain
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The Iran war is either concluding with the world worse off, or escalation is just delayed again
A fragile ceasefire agreement in the war began with bombs continuing to explode in Lebanon and contradictory statements about whether Iran will continue to control the critical Strait of Hormuz energy chokepoint. But the most likely scenarios moving forward involve either Iran exerting more control over global energy markets than it did before the fighting
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Morgan Stanley’s Bitcoin ETF began trading. An analyst put it in the top 1% of ETF launches
A slew of Bitcoin ETFs have hit the market since the products were first approved in the U.S. in 2024, but so far one sector has remained on the sidelines—major U.S. banks. That changed Wednesday with the launch of MSBT, a Bitcoin ETF offered by Morgan Stanley. The spot ETF, which features an industry low
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How dual incomes and the tech boom turned the upper middle class into America’s biggest income group
The ranks of Americans that can add guac to their burrito bowl guilt-free have swelled. The upper middle class has become the largest income group in the US, according to a recent analysis by the right-leaning American Enterprise Institute, highlighted by the Wall Street Journal. The report contends that the lower rungs of the middle
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Analysts warn the TACO trade won’t last forever after an Iran ceasefire wipes out weeks of losses in markets
President Donald Trump again stepped back from the brink and traders are cashing in on what they called “TACO Tuesday.” After threatening that “a whole civilization will die tonight” early Tuesday, just two hours before his 8 p.m. deadline, Trump announced a two-week ceasefire on the condition that Iran reopen the Strait of Hormuz and
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‘You can never really catch up’: The Iran War is exacerbating already high grocery bills and it will only get worse if the war continues, experts say
The U.S., Israel, and Iran agreed to a two-week ceasefire on Tuesday, but the sticker shock you’ve been feeling every time you go to the grocery store will get worse if the war continues. One of the first places you’ll feel it will be the produce aisle, experts say. A Fortune analysis of produce wholesale
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Jamie Dimon warned high taxes would push business out of New York, but the city is honing its edge over Miami in attracting top talent, report finds
JPMorgan Chase CEO Jamie Dimon warned of an exodus of companies from New York as a result of climbing taxes and regulatory encumbrances, but emerging data suggests mass migration away from the metropolitan has been greatly exaggerated. In JPMorgan’s annual shareholder letter, Dimon wrote that “while New York City has much going for it,” it
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$1.5 trillion relief rally erupts on Wall Street after Trump hits pause on Iran strikes
Five weeks of held breath just exhaled from the U.S. stock market this morning, and it was worth about $1.5 trillion. The rally caps a frantic 24 hours. On Sunday, Trump set an 8 p.m. Tuesday deadline for Iran to reopen the Strait of Hormuz or face strikes on its bridges, power plants, and what