Fed rate cuts were supposed to help ease U.S. debt costs, but it’s not looking good so far

The start of the Federal Reserve's rate cuts last month was expected to bring bond yields down—and take some pressure off the spiraling U.S. debt burden. Last month, Apollo Global Management chief economist Torsten Sløk noted that with U.S. debt now at $35.3 trillion, interest expenses average out to $3 billion a day.