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07.11 - 12:23
Federal Deficit Could Widen as Economy Slows, Borrowing Costs Rise
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A cooling U.S. economy and rising interest rates could widen the federal budget deficit, potentially undercutting the White House’s message that a shrinking budget gap under President Biden shows fiscal responsibility in a time of high inflation.
The budget deficit for the 2023 fiscal year, which began Oct. 1, is expected to hold nearly steady from the last fiscal year, at more than $1 trillion, the White House and private sector economists say.
Read more on wsj.comAbout this in other media
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