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The Fed's Role in Funding the Government
Jay Powell when asked about the US government deficit gives the following answer. If and when he is asked about the downgrade of US debt by Fitch, I can almost guarantee you that he will give the following answer: "That's not my job" He cares about inflation, the dual inflation and unemployment, the dual mandate, a little financial stability sprinkled on top. You know, that's up to Congress. It was Congress's job at the time to take advantage of zero interest rate policy to indemnify the nation's balance sheet for as long as possible. Now we're faced with locking in high rates place in the country at risk.