Jeffrey Schaefer

Brad Setzer, a senior fellow at the Council on Foreign Relations, and Jeffrey Schaefer, former Assistant Secretary of the Treasury, dive into the U.S. Treasury's remarkable $20 billion loan to Argentina. They explore the mysterious Exchange Stabilization Fund, its historical context, and its unique authority that bypasses Congressional approval. With insights from the 1995 Mexico bailout, they predict how Argentina's troubled economic landscape might mirror past crises. The conversation raises questions about the effectiveness of such financial interventions.