NEW! – 8-22-26 Podcast – Glenn Hubbard & Tony O’Brien discuss higher long-term treasury yields and the challenges they present.

Join authors Glenn Hubbard & Tony O’Brien as they discuss rising long-term bond yields and their economic implications. Topics discussed include the federal government’s large budget deficit, concerns about fiscal credibility, and the Federal Reserve’s inability to meet its inflation target. The discussion also touched on the connection between federal budget deficits and trade imbalances, highlighting how large deficits require the U.S. to borrow from foreign investors.