Jeanna Smialek on *Limitless: The Federal Reserve Takes on a New Age of Crisis*
Macro Musings with David Beckworth
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The Fed's Limitless Position on the Debt Crisis
If push came to shove in this June, we had an outright debt default. I think it would be hard for the Fed not to step in and maybe take some baby steps. They've talked about doing things like sort of taking on treasury loans as collateral or swapping them out for QSIPs. There's a challenge there is the scope of the problem may be so large that even whatever the Fed could do would be a bit of a bandaid on a bullet wound.
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