Thursday, May 04, 2023

Shouldn't Be A Thing

No one should assume that the Fed can really protect the economy and the financial system and our reputation globally from the damage that [a U.S. default] might inflict.  We shouldn't even be talking about a world in which the U.S. doesn't pay its bills.  It just shouldn't be a thing.

-- Federal Reserve Chair Jerome Powell, in a press statement announcing an interest rate hike of 0.25%, 3 May 2023

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