States are facing fiscal pressure as revenue growth slows and welfare spending remains high, leading to elevated deficits. Morgan Stanley reports state fiscal deficits are projected to stay at 3.2% of GSDP through FY27, while the consolidated fiscal deficit is expected to rise to 7.9%.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend