Episode 328: Artificial Intelligence
Words & Numbers
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The Federal Government's Deferral of Payments Causes a Permanent Half a Point Increase in Interest Rates
The federal government has never defaulted. We had a deferral like we may be facing now back in 1979. Ended up being a glitch with the check writing system, but checks were delayed by a few days. Economists estimate that that delay of whatever it was resulted in a permanent half a percentage point increase in treasury rates.
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