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Unsustainable fiscal policy : implications for monetary policy

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  • Renee Courtois Haltom
  • John A. Weinberg

Abstract

The debt of the U.S. government is at historically high levels, but how do we know whether debt levels are worrisome? This Economic Brief argues that the current fiscal position is not sustainable. Though financial markets seem unconcerned, for the time being, about U.S. fiscal health, as evidenced by low rates on Treasury securities, lawmakers should not be complacent. Expectations are liable to change as large fiscal imbalances persist, with potentially devastating consequences for the U.S. economy and monetary policy.

Suggested Citation

  • Renee Courtois Haltom & John A. Weinberg, 2012. "Unsustainable fiscal policy : implications for monetary policy," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Jul.
    • Handle: RePEc:fip:fedreb:y:2012:i:jul:n:12-07
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    File URL: https://fraser.stlouisfed.org/title/economic-brief-6034/unsustainable-fiscal-policy-583902
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    Cited by:

    1. is not listed on IDEAS
    2. Cyrus MUTUKU, 2015. "Assessing Fiscal Policy Cyclicality and Sustainability: A Fiscal Reaction Function for Kenya," Journal of Economics Library, KSP Journals, vol. 2(3), pages 173-191, September.

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