* Some economists now see rate cuts delayed until March 2025,
* Fed’s Beige Book reports steady economic growth but slim progress on inflation
* ‘Insatiable’ AI demand expected to lift Q2 sales for world’s biggest chipmaker
* Climate change bill may reach $38 trillion a year by 2049, study finds
* US dollar’s dominant reserve currency status likely to endure: Morgan Stanley

US debt is a threat to the global economy, the International Monetary Fund warns. “Loose fiscal policy in the United States exerts upward pressure on global interest rates and the dollar,” says Vitor Gaspar, director of the IMF’s fiscal affairs department. “It pushes up funding costs in the rest of the world, thereby exacerbating existing fragilities and risks.”