Shafaqna English– The world has become increasingly reluctant to lend money to President Donald Trump’s administration, which is driving interest rates higher. This, in turn, is intensifying cost-of-living pressures, slowing economic growth, and posing a fresh political threat to Republicans in the November midterms.
The surge in energy prices caused by the war with Iran has now affected the bond market that finances the U.S. government. The interest rate on 10-year Treasury notes has risen to 4.44%, up from 3.95% before the conflict began in late February. Meanwhile, average mortgage rates have hit their highest point in nine months, and auto sales are declining.
Source: Apnews