London
CNN
—
The United States risks a bond market crisis of the kind that engulfed the United Kingdom 18 months ago, sending yields soaring and sparking a run on the pound, according to Congress’s independent fiscal watchdog.
The stark warning from the Congressional Budget Office comes as US government debt continues to break records, fuelling concerns about the burden that places on the economy and taking a toll on America’s credit rating.
In an interview with the Financial Times, CBO director Phillip Swagel said US government debt — which the Treasury Department puts at nearly $35 trillion — is on an “unprecedented” trajectory.
“The danger, of course, is what the UK faced with former Prime Minister (Liz) Truss, where policymakers tried to take an action, and then…
