On Thursday, October 27 the government will release its most recent numbers on Q3 GDP and the most updated numbers on our national debt. Economists and investors will be looking to see how deep of an economic contraction has taken place between Q2 and Q3. The Federal Reserve has been aggressively raising interest rates with the end goal of having an economic contraction. Their endgame is to lower the current level of inflation.
The most recent numbers according to the US Debt Clock.org are indicating that our national debt is currently more than $31 trillion and growing. The most recent numbers from the Federal Reserve revealed that its balance sheet has only declined slightly from approximately $8.7 trillion at its peak to its current level of $8.3 trillion.
This means that interest rates at 4 ½% to 5 ½% are unsustainable for any protracted length of time because it will increase the cost of servicing our federal debt.
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'More of the Same' to Come from Housing Market in Coming Months: EconomistA new report from RBC Economics shows that sales activity and home prices continuing on a downward trajectory in most Canadian markets.
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