4min chapter

Planet Money cover image

Jay & Shai's debt ceiling adventure

Planet Money

CHAPTER

Is There a Secret Plan or New Magic Money That Treasury Could Create?

Jay Powell: No one knows exactly what's going to happen when we go off that cliff. They would tell politicians, remember the government shutdowns where Congress doesn't pass a spending bill? This is way worse. The peak of their efforts came on July 15th, two weeks before their projected x-date of August 2nd. Jay Powell had been invited to speak in front of the entire Republican caucus at a closed-door meeting but was not invited.

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