By Jo Craven McGinty, includes “… ‘One thing economists and people in general have miscalculated is the massive global appetite for the U.S. dollar and U.S. dollar-denominated debt,’ said David Andolfatto, a senior vice president of the Federal Reserve Bank of St. Louis. … But it isn’t clear what level of debt-to-GDP ratio truly represents fiscal prudence, or financial risk, particularly because the current levels exceed thresholds that were previously considered safe.”
Read the full article on: The Wall Street Journal