Federal Debt Ceiling

View of the Grand Tetons from Jackson Lake Lodge in Wyoming where economists and central bankers from around the world convened August 24-26, 2023 for the annual Jackson Hole Economic Symposium. Source: Wikimedia Commons
View of the Grand Tetons from Jackson Lake Lodge in Wyoming where economists and central bankers from around the world convened August 24-26, 2023 for the annual Jackson Hole Economic Symposium. Source: Wikimedia Commons
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While We Were Out

We took a break from the Wrap while Congress adjourned for August recess, but this month was nonetheless a busy one. Catch up quickly on updates from while we were…

President Joe Biden addresses the nation from the White House in Washington, D.C. on the debt ceiling agreement on May 28, 2023. Source: White House
President Joe Biden addresses the nation from the White House in Washington, D.C. on the debt ceiling agreement on May 28, 2023. Source: White House
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Tracking the Debt Deal

Here’s what we know on the Biden/McCarthy deal to suspend the debt ceiling for two years.

US Treasury Building in Washington DC
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SLGS Window Closes

As the federal government continues to move closer to its debt ceiling x-date, all options are on the table.

Speaker of the U.S. House of Representatives, Kevin McCarthy, speaks on April 17, 2023 to the New York Stock Exchange about the status of the federal debt ceiling.
Speaker of the U.S. House of Representatives, Kevin McCarthy, speaks on April 17, 2023 to the New York Stock Exchange about the status of the federal debt ceiling.
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House Republicans Unveil Debt Ceiling Plan

Speaker McCarthy released a bill to raise the debt ceiling in exchange for a number of Republican priorities. What we know and don’t know.

Chair Powell presents the Monetary Policy Report to the Senate Committee on Banking, Housing, and Urban Affairs in 2018.
Chair Powell presents the Monetary Policy Report to the Senate Committee on Banking, Housing, and Urban Affairs in 2018. Source FRB via Flickr.com.
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Fed Eases but Stays the Course

Big news of the week: The Federal Reserve Bank raises rates 25 bp and signals more to come.

US Treasury Building in Washington DC
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Extraordinary Measures Start: No SLGS Suspension

Treasury Secretary Yellen announced the U.S. had reached its statutory debt limit and would implement extraordinary measures. Notably absent— any mention of SLGS suspension.