Trump signs the big and beautiful Act, "The New York Times": Takes the United States onto a new and more dangerous fiscal path

On the afternoon of July 4th local time, President Trump signed the "big and beautiful" tax and spending bill, marking the controversial bill officially becoming law. The New York Times pointed out that this bill has put the United States on a new, more dangerous fiscal path and heightened investors' concerns about the debt crisis. A spokesperson for the International Monetary Fund also stated that the "big and beautiful" bill will further widen the US fiscal deficit, contrary to the organization's recommendation for the US to reduce its fiscal deficit in the medium term. Additionally, some investors are concerned that the massive US debt forecast is putting pressure on the US dollar. In the first half of this year, the US dollar index fell by 10.8%, marking its worst performance since 1973. If the US dollar continues to weaken, it may prompt investors to move funds from US dollar assets to other asset classes, changing the flow and allocation of global funds.