Goldman: Something strange is happening with the US economy that could cause interest rates to jump

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Goldman: Something strange is happening with the US economy that could cause interest rates to jump‘CNBC

America’s budget deficit and unemployment rate are heading in opposite directions ‘ something that’s never happened during post-World War II peacetime and could cause a significant jump in interest rates.

Goldman Sachs projects, for instance, that the 10-year Treasury note could be yielding 3.6 percent next year.

The deficit increase is coming due to the recent barrage of fiscal stimulus from Congress, including a $1.5 trillion tax cut approved in December 2017 and a $1.3 trillion spending bill aimed at keeping the government operating through the end of the fiscal year.

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  • Publisher: CNBC
  • Date: 2018-05-14T13:32:01-0400
  • Author: Author link
  • Twitter: @CNBC
  • Citation: Web link

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While you’re here, how about this:

CNBC Transcript: Gary Cohn Speaks with CNBC’s Bob Pisani Today

Following is the unofficial transcript of a FIRST ON CNBC interview with former National Economic Council director Gary Cohn and CNBC's Bob Pisani on CNBC's "Squawk on the Street" (M-F 9AM – 11AM) today, Tuesday, May 8th. Watch video of the full interview on CNBC.com here!

CARL QUINTANILLA: ALRIGHT, SUE, THANK YOU VERY MUCH. SUE HERERA. LET'S GET OVER TO BOB PISANI WHO IS AT BTIG'S 16th ANNUAL CHARITY DAY SITTING DOWN WITH A VERY SPECIAL GUEST. HEY BOB.

  • Author: BWW News Desk
  • Twitter: @broadwayworld
  • Citation: Web link

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Nobel laureate economist declares war against ‘know

Growing up, Joseph Stiglitz bore witness to America's economic future. The decline of the once-mighty industrial heartland. The hollowing-out of Rust Belt communities. The decimation of the middle class. The chasm not just between rich and poor, but the rich and the rest.

The Nobel laureate in economics, who wore hand-me-downs from his elder brother that were clothes bought by his mother off the sale rack, came of age in Gary, Indiana. Even then, back in the supposed Golden Age of the 1950s, the struggling steel town was becoming part of a post-industrial landscape that provided a seedbed for Donald Trump. "I saw the case studies before people gathered the data," says Stiglitz, whose writings over the past 50 years about the growing income gap in the US economy now read like forewarnings of President Trump's rise.

  • Publisher: The Sydney Morning Herald
  • Date: 2018-04-20T15:23:56+00:00
  • Author: Nick Bryant
  • Twitter: @smh
  • Citation: Web link

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