The global savings glut is over and governments have to pay up to borrow; the U.S. situation is especially risky.

The Federal Reserve aims to cut 10% of its workforce over the next several years, Chair Jerome Powell told employees in a memo, according to multiple reports—following suit with the Trump administration’s efforts to reduce the size of the federal workforce despite the agency’s independence from the executive branch.

President Trump’s tax plan has sparked concern among investors, driving Treasury bond yields to a nearly two decade high amid growing worries over U.S. debt.

The Federal Reserve plans to shrink its workforce by about 10% over the coming years, bringing the U.S. central bank in line with President Donald Trump's broader efforts to streamline the federal government,

Tax cuts favored by President Trump are amplifying debt and deficit concerns and pushing 30-year Treasury yields to their highest level since October 2023.