Turkish media: US should consider its own financial situation rather than offering advice to other states

The US economic agenda is based on questions about its sovereign debt and bank collapse.

Therefore, it is better for the US not to give economic advice to other countries, but to deal with its own financial situation, the Turkish Sabah newspaper writes.

The US economic agenda is currently focused on two important topics. The first is whether the US Congress will raise the "federal debt ceiling" and the second is bank failures.

Based on the current situation, the US side is better off dealing with its own problems than advising other countries on government fiscal discipline, budget balance, and government borrowing.

The article’s authors said that the US Federal Reserve has learned a series of valuable lessons. These are the Silicon Valley Bank (SVB) collapse, banking sector deregulation, lack of situational awareness, and other problems that have accumulated in the banking sector in recent years.

The publication noted that the US should take the right steps with regard to its national debt and draw the necessary conclusions after the collapse of the banks. If this is the case, the constant arguments that the federal government can no longer borrow money as the federal debt limit is reached could end.