The 'debt ceiling drama' can 'neutralize' Fed tightening - Danielle DiMartino Booth debtceilingdrama DanielleDiMartinoBooth Fed
- Although the Federal Reserve has been tightening its monetary stance over the past year, raising interest rates by 425 basis points, fiscal policy can"neutralize" Fed moves. That is according to Danielle DiMartino Booth, a former Federal Reserve Advisor and author of FED UP: An Insider's Take on Why the Federal Reserve is Bad for America.
The debt ceiling, currently set at $31.4 trillion, is the legal limit at which the U.S. government can borrow money. With Ukraine war allocations and other discretionary spending rising, the Congress is expected to raise the debt ceiling, allowing it to borrow more funds. "There are several big banks who have come out and begun to warn about disinflation in 2023," she said."That was unthinkable twelve months ago. And yet, M2 money growth is telling us that that is exactly what is percolating."
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