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US consumers show the Fed its backward problem with high rates: Morning Brief

Consumer confidence rebounded in May, but there are signs this data is being driven by wealthier consumers enjoying the spoils of high rates, presenting a new challenge for the Fed.

United statesRick newmanJpmorgan jack manleyJack manleyYahoo financeGrace zwemmerOxford economics

The US government is paying $2 million of interest a minute as rates stay high

The surge in interest payments has led to some paradoxical thinking on Wall Street about how exactly the Fed can tame inflation back to 2%.

Jpmorgan jack manleyFederal reserveLouis fedWall streetJack manleyInterest rateInterest paymentsInterest expensesUs treasury

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