Inflation Fears Won't Drive US Policy Anytime Soon

In the spirit of these polarized times, views about US public debt are sharply divided. According to one view, there’s simply no problem: The US government can borrow for next to nothing, and that’s not about to change so why worry? According to the other, public debt is out of control, and the consequences will be obvious as soon as interest rates come back off the floor: The day of reckoning is coming soon, and it will be brutal.