Posted 11/22/2023, 4:03:44 PM
Economist Warns Financial System Facing Shakeup as Rising Rates Strain Markets
- Wall Street concerned about potential earthquake in financial system due to Fed tightening
- System likened to an engine shaking under stress of higher rates by Mark Zandi
- Zandi warns of liquidity risks in Treasury market from ballooning US debt
- Zandi states "We're here" regarding arrival of public debt crisis
- Interest costs on debt projected to soon exceed defense budget indicating debt load unsustainable