Financially Faulty
09/12/2019 |
Recent suggestions that the Fed drop rates to zero and that we refinance our $16.7 trillion public debt are, at best, ill advised. Refinancing of US sovereign debt is without modern precedent. The instruments aren’t callable, and the fear it would generate would push rates up. As for bringing rates down to zero now when the economy is OK, what happens when the recession comes? Save the firepower till then!