Free Republic

The 5 percent barrier has long since been left behind. This week, the yield on 30-year American government bonds hit 5.6 percent, its highest level since way back in 2002, while the cost of ten-year borrowing rose to its highest level in 20 years. However hard the Treasury Secretary Scott Bessent tries to control it, the interest rate the American government has to pay to finance its vast deficit keeps on rising relentlessly. As it climbs towards 6 percent and perhaps even higher, surely we must soon see a change in the political debate. Three decades of financial complacency will...

Share Article via Email Inflation accelerated at its fastest pace in more than 12 years for April as the U.S. economic recovery kicked into gear and energy prices jumped higher, the Labor Department reported Wednesday. The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year ago, compared to the Dow Jones estimate for a 3.6% increase. The monthly gain was 0.8%, against the expected 0.2%.