Trump warned about this.

In 2026, the USA will have to borrow trillions of dollars to cover old debts that are maturing.

What is important to understand here?

In previous years, these debts were taken on at nearly zero rates.

But now they need to be refinanced at a higher interest rate, even despite recent rate cuts.

Why is this a problem?

Even every "0.1%" key rate means tens of billions of dollars from the budget. And that is why Trump is putting so much pressure on the Federal Reserve, insisting on a rapid reduction.

Debt servicing consumes the budget, and during such times, countries have to choose: cut spending, borrow even more, or devalue the currency.

Money goes not into economic growth, but into interest on the debt.

And this usually leads to market slowdowns: stocks grow worse, bonds become more volatile, real estate loses demand, and currencies more often come under pressure.$BTC $ETH