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Powell Says Fed Is 'Close But Not There' on Getting Inflation Under Control
The U.S. government deficit is flashing red again! The deficit for the first four months of the fiscal year reached 84 billion dollars, setting a record and exceeding the peak period of the pandemic.
As of January this year, in the first four months of the 2025 fiscal year, the USA federal government's budget deficit expanded by 58% year-on-year, with government revenue and expenditure both reaching record highs for the period, increasing by 1% and 15% year-on-year, respectively. In the first four months, government interest costs amounted to 392 billion dollars, accounting for 16% of total expenditure; the budget deficit for January reached 129 billion dollars, the second highest level after January during the COVID-19 pandemic. In January, government expenditure increased by 29% year-on-year, while revenue grew by 7.5%.
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