With the latest CBO estimates for the US Federal budget for August just in, we are again in a position to take stock of the scale of the burden which the COVID-19 lockdowns and more general restrictions have imposed upon the nation’s finances. It does not make for happy reading.
Banking, Budget, Deficit, Federal Reserve, Fiscal policy, Fixed Income, Government, Inflation, Macro, MMT, US Treasury, USA
Fiscal Free Lunch
[This is the first of a series of short bulletins called, 'The Course of the Exchange', in memory of John Castaing's widely-read updates, posted in Jonathan's Coffee House in Change Alley, 300 years ago]