Hanno Lustig on Fiscal Dominance, Inflation, and the Effects of Long-term Interest Rate Decline
Macro Musings with David Beckworth
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Are We Running Low on Time?
The U.S. is in a very special position as the world's safe acet supplier, and that gives us more room to manoeuvre when it comes to fiscal policy. But we don't know when we will exhaust this exorbitant privilege. The danger is, of course, that real rates are partly low because bonmark ivestors anticipate low growth. We could have some more bad shocks. Ye, well, we are running high on time.
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