Michael Strain on Averting the Looming Debt Ceiling Disaster
Macro Musings with David Beckworth
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The Treasury Department and the Federal Reserve - What's the Best Option?
The U.S. Treasury Department can choose not to issue debt, roll it over and that frees up some space for the account team maneuvers they're doing now. The other big player in this is the Federal Reserve. There's a tension between the Fed saying, hey, we got this versus let the political players sort it out. If elected branches of government decide to default on US debt, it is not the job of the Fed to treat bonds that are in default as if they are not in default.
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