Mike Konczal says higher interest rates may be a poor tool for restraining both the federal deficit and AI hyperscaler spending, arguing both are relatively price-insensitive. He links that view to persistent inflation gaps and a still-tight labor market.
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Mike Konczal says higher interest rates may be a poor tool for restraining both the federal deficit and AI hyperscaler spending, arguing both are relatively price-insensitive. He links that view to persistent inflation gaps and a still-tight labor market.
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