Amid fears of a crisis, the US begins the debt ceiling battle (comments by Arvind Subramanian)
Arvind Subramanian comments for Hindustan Times, “If the US breaches the limit, then financial markets panic because trust in the single most trusted borrower in the world — Uncle Sam — is jeopardised. And literally every interest rate in every market in the world is priced off US government bonds (the debt). So, if this market is rattled, the risk is of all global markets being rattled.”
January 19, 2023 Hindustan Times