The weekly report shows a surge in factory construction in the USA, largely due to Biden's efforts to bring production back to the country. However, the American manufacturing PMI is struggling, and it seems that without programs to attract foreign enterprises, US production would suffer. Additionally, there is a shortage of workers to fill these new factories, which contributes to high wages and inflation. These challenges are causing concerns for Powell, who is unable to lower rates, and ultimately leading to a rise in the cost of servicing the public debt pyramid, surpassing the defense budget.
