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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPIMCO's Jerome Schneider explains why now's the 'perfect condition' to be in fixed incomeLouise Sheiner, Brookings Institution senior fellow and policy director for The Hutchins Center on Fiscal and Monetary Policy, and Jerome Schneider, PIMCO managing director, join 'Squawk Box' to discuss the state of the economy, latest market trends, what investors should expect from Fed Chair Jay Powell in Jackson Hole tomorrow, and more.
Persons: PIMCO's Jerome Schneider, Louise Sheiner, Jerome Schneider, PIMCO, Jay Powell Organizations: Brookings Institution, The Hutchins, Monetary Locations: Jackson
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm not ready to declare victory on a soft landing yet, says Brookings Institution's Louise SheinerLouise Sheiner, Brookings Institution senior fellow and policy director of the Hutchins Center on Fiscal and Monetary Policy, joins 'Squawk Box' to discuss the Fed's inflation fight, why it's still too soon to declare victory on a soft landing, and more.
Persons: Brookings, Louise Sheiner Louise Sheiner, it's Organizations: Brookings Institution, Hutchins, Monetary
In that instance, S&P Global Ratings credit rating agency downgraded the government from AAA to AA+ credit rating. The federal government maintains a perfect credit rating from Fitch and Moody’s, but that could change as the stalemate drags on. Investors care about stability and predictability, so a credit rating downgrade would send a chill down Wall Street’s spine. The broadest economic impact of a US debt default would be a recession that would encompass the global economy, including sharp job losses. And the housing market would not be spared by the “economic calamity” of a US government default, as Yellen once described it.
Minneapolis CNN —After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. And Americans — many people — would lose their jobs and certainly their borrowing costs would rise.”Dire warnings of debt ceiling trouble aren’t new. “2011 was the first time in a long time that we came close to a debt ceiling breach,” he said. “I think you would be hard pressed to say [the debt ceiling debacle] was a positive thing,” he said. Considering the potential consequences in the United States and abroad, Sheiner believes the debt ceiling will be lifted or suspended — eventually.
She eventually learned that the balance issues and ear pain resulted from a damaged vestibular nerve, a known effect of long Covid. She found that 2 million to 4 million full-time workers are out of the labor force due to long Covid. For one, many of the hundreds of potential long Covid symptoms are invisible to others, even if disabling for the afflicted. Why the long Covid labor gap mattersJerome Powell, chair of the Federal Reserve, mentioned Sheiner and Salwati's long Covid research in a recent speech about inflation and the labor market. That burden will continue to rise if long Covid patients don't start recovering at greater rates, she said.
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