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Fiscal policy is the use of government spending and taxation to influence the economy. The Federal Reserve does not set fiscal policy, but it's important for us to understand its effects.

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July 19, 2023

Grey Gordon discusses his research on sovereign debt, the economic consequences of an increase in the cost of that debt, and the implications for the United States in the wake of the recent debt ceiling debate. Gordon is a senior economist at the Federal Reserve Bank of Richmond.