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The Debt Ceiling Approaches | Joseph Wang & Dominique Dwor-Frecaut
Forward Guidance
The Consequences of Less Non Marketable Securities
There's more room under the magical measures to extend the debt ceiling. So they'll just issue fewer of these securities to sub-governmental organizations which hold them as assets. The state and local, special state and local government series is actually really interesting. In the US, in the US, if you are a state and localGovernment and you go shoot debt, it's not a tax go on the federal level so they can issue a pretty low interest rates.
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