Defaulty Towers: How dangerous is the US Debt Ceiling?
Many Happy Returns
Could the Fed Save Us?
If the US defaulted and couldn't pay back bondholders, could the Fed save us? Could the Fed do something? We always talk about how powerful they are. Do they have a bit of magic up their sleeve? Well, the good thing is they own lots of treasuries. And if you look at the Fed's balance sheet, it's still not much less than the nine trillion at peak debt.
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