What Happens When Government Borrowing Costs Go Up?

Grey Gordon discusses his research on sovereign debt, the economic consequences of an increase in the cost of that debt, and the implications for the United States in the wake of the recent debt ceiling debate. Gordon is a senior economist at the Federal Reserve Bank of Richmond. Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2023/speaking_2023_07_19_government_debt