The empire of IOU: the future of U.S. sovereign debt (July 28, 2025)

Julia Hermann hosts Steven Friedman, Managing Director and Senior
Macroeconomist at MacKay Shields, for a special recording of
Market Matters on the 34th floor of the New York Life building in
Manhattan. Join Julia and Steve for a deep dive into the
sustainability – or lack thereof – of public debt in the United
States. Can the U.S. keep up its pace of spending? What does the
Big Beautiful Bill mean for the debt trajectory? Are interest
payments spiraling out of control? We answer these questions and
more on this week’s episode.