The Fed's Printing Press and the Debt Ceiling

Robert McGordy: We've hit the debt ceiling. He says it doesn't mean the Fed is going to default but they got a printing press. It could create extra stimulus or distortions in financial markets, he says. And so all of this is creating a lot of uncertainty and a lot of volatility in the government bond market,. The stock market hasn't noticed it yet but I would argue that if the bond market is continuing to be a problem child over time that problem child will consume everything else.