In this week’s commentary we attempt to clear up some of the confusion around some of the most common questions we encounter regularly, including:
- The Federal Reserve (Fed), its balance sheet, its role in the economy, and its impact on inflation;
- The federal budget deficit;
- The federal debt outstanding, and the debt-to-GDP ratio; and
- The trade deficit and a related topic, the US dollar.
In many ways, the items above are related. But oftentimes, pundits, politicians, newsletter writers, bloggers, Tweeters, and even the “traditional media” will confuse or conflate one or more of these issues, and that’s…
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