#30 Steven Hail: Understanding Government Bonds (Part 1)

In this discussion, economist Steven Hail simplifies the complexities of government bonds and yield curves. He explains the mechanics behind bond issuance and the relationship between par value, coupon rates, and yields. Hail dives into the recent yield curve inversion, tying it to economic implications and recession indicators. With a nod to Modern Monetary Theory, he challenges traditional views on fiscal policy, illustrating how shifts in interest rates affect economic activity and the perception of macroeconomic theory.