Kommentar: Die Finanzakrobatik Trumps und Bessents ist abenteuerlich
Der Präsident und sein Finanzminister gefährden die Glaubwürdigkeit amerikanischer Finanzpolitik. Sie könnten ein Beben an den Anleihemärkten auslösen, das die Finanzkrise 2008 harmlos erscheinen ließe.
Global financial markets have sounded the alarm, as evidenced by the rising long-term capital market interest rates worldwide. Following the United States, interest rates on long-term U.S. Treasury bonds, which serve as a benchmark for global financial markets, have breached the critical five percent threshold. The yield on 10-year U.S. Treasury bonds is now at approximately 3.5 percent, the highest level since 2008.
Capital is becoming notably more expensive. The underlying reasons are evident: growing inflation concerns, increasing national debt, and especially in the United States, justified mistrust in the Federal Reserve's willingness, or even ability, to aggressively combat rising prices.
Amidst these uncertain times, the U.S. President and his Treasury Secretary are contributing to the mounting nervousness in bond markets. Donald Trump pledges in his campaign to grant every adult citizen in the event of a Republican majority in both the House of Representatives and the Senate a $5,000 bonus. Irrespective of whether the so-called Trump dividend amounts to bribery and that Congress alone has the authority to decide on such massive expenditures, it fuels concerns about the loss of control over American state finances.
The cost of the Trump dividend would exceed one trillion dollars, more than the state spends on defense.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
