A 2019 report from the London School of Economics warned that weaponization of the dollar can trigger a "complete reversal of global economic integration" and geopolitical shifts that destroy the WTO system.
"The data is still very, very strong. The Fed keeps raising rates; it hasn't had an impact. Until it has an impact, we'll keep chugging along," Steve Eisman said.
The US budget deficit jumped to $2.3 trillion in the 12 months through June – that's a 64% increase from fiscal year 2022 and more than twice as big as the shortfall at the start of the pandemic.