Fed's Williams: Inflation Still Too High, More Tightening Needed
New York Fed President John Williams said inflation remains too high and the Fed needs to tighten further, supporting expectations for a December rate hike.
45 min ago12 min read
US October deficit hits $404 billion record
The US budget deficit set a record in October at $404 billion, as spending rose and revenue fell. Separately, an attack in southern Iran weighed on risk assets.
12/11/2026 20:112 min read
- Government spending in October reached $773 billion, compared with $689 billion in October 2025.
- Receipts totaled $369 billion, down from $404 billion in October 2025.
- The deficit climbed to $404 billion from $284 billion in October 2025.
This number really provides perspective. Even if the United States had doubled its tax revenue in October, it still would not have covered the shortfall.
Meanwhile, IRNA is reporting an attack near Sirik in southern Iran, and that is weighing on risk assets.
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