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2023-06-05 13:51:10

squirrelmaster on Nostr: Even though we raised the debt ceiling, pain is coming. Treasury now needs to ...

Even though we raised the debt ceiling, pain is coming. Treasury now needs to replenish its bank account. And when they do that, money will drain out of the economy and go into the treasury‘s account. This will reduce liquidity even while banks were seeing withdrawals following SVB and First Republic. This will increase their cost of capital, which in turn will make them increase rates they charge to borrowers. So because of the debt ceiling delay, people trying to take out a mortgage will have to pay more because rates will increase #debtceiling
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