Bond market shrugs as Fed signals rate hike amid $39 trillion U.S. national debt
By
Eva Roytburg
Summary
The article discusses the U.S. national debt reaching $39 trillion and the bond market's reaction to the Federal Reserve's hawkish stance under new Chair Kevin Warsh. While the Fed signaled a potential rate hike later in the year (reversing earlier expectations of cuts), the bond market largely ignored this news. The piece explores the disconnect between Washington's concerns about debt sustainability and the market's apparent calm, suggesting the bond market may know something policymakers don't.
Source
bskyBond market shrugs as Fed signals rate hike amid $39 trillion U.S. national debtfortune.comKey quotes
· 3 pulledThe national debt—a barely-comprehensible $39 trillion—seems, to hear economists tell it, forever one shock away from bringing the whole country down.
In his first meeting as Fed chair, Kevin Warsh made clear he's serious about getting prices under control.
The bond market decided to ignore it.
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