The latest battle over a government shutdown has passed, with Congress electing to keep funding flat. The Moody’s threat to downgrade U.S. sovereign debt has faded from the headlines. Even the elevated 10-year Treasury yield, with its threat of sending U.S. interest costs spiraling out of control, has cooled off a bit. It might be tempting to assume these developments mean we’ve made some progress on the country’s long-term fiscal challenges. That’s unfortunately not the case.

Source: Washington Post November 22, 2023 13:13 UTC