The Federal Reserve's upcoming FOMC meeting may result in a temporary pause in raising interest rates for the first time in 10 meetings. However, inflation remains high and has increased further, as shown in the latest PCE report.
The US economy created 339,000 new jobs in May, but the unemployment rate rose to 3.7%. The Congressional Budget Office predicts that interest costs on national debt will reach $645 billion this year and $1.4 trillion by 2033, with an expected increase in interest rates on federal debt as it matures and is refinanced. The average interest rate on publicly held debt is expected to be 2.9% in 2024, a 0.7% increase from 2022.
The mass selling of US bonds will lead to lower prices and higher profits. High production is the kryptonite for valuing gold. Although the debt crisis has been prevented, investors in gold hope that high interest rates will stop putting pressure on the price of gold.
The US economy created 339,000 new jobs in May, but the unemployment rate rose to 3.7%. The Congressional Budget Office predicts that interest costs on national debt will reach $645 billion this year and $1.4 trillion by 2033, with an expected increase in interest rates on federal debt as it matures and is refinanced. The average interest rate on publicly held debt is expected to be 2.9% in 2024, a 0.7% increase from 2022.
The mass selling of US bonds will lead to lower prices and higher profits. High production is the kryptonite for valuing gold. Although the debt crisis has been prevented, investors in gold hope that high interest rates will stop putting pressure on the price of gold.
