Despite huge deficit spending, US GDP has fallen down to 1.6 percent in Q1. This should be alarming as the endless borrowing can’t seem to prop up the US economy. The IMF is scolding the US Congress for their spendthrift ways, highlighting how this is putting the global economy at big risk. Meanwhile, Republic First Bank has collapsed in the US, signalling a resurgence in bank failures thanks to higher interest rates. Here’s what you must know!
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