A drastic solution to exploding US government...

Today, we're bringing you an episode from another podcast in the FT stable: The Story of Money.Jesse Livermore was a legendary trader who made and lost several fortunes in the early 20th century, most famously by shorting the Wall Street crash of 1929. His early life was immortal ...  Show more

The Fed held rates steady on Wednesday, and chair Kevin Warsh commented on the Federal Reserve’s future role in markets. Today on the show, Katie Martin and Rob Armstrong try to figure out if Warsh can really have the Fed he says he wants. Also they catch up on their bets on the ...  Show more

In a high-stakes showdown this week, President Biden and the leaders of congress met face to face in an effort to avoid the United States defaulting on its debt for the first time in history.

Jim Tankersley, a White House correspondent for The Times, explains how close t ...

Note: A version of this episode first ran in 2023.Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Once we reach that limit, Congress ...  Show more

There's an economic fantasy you sometimes hear in D.C. It often gets trotted out when politicians are trying to add billions or trillions to the national debt. They claim that all the new spending will be worth it in the end because we will supercharge economic growth. This fanta ...  Show more

Top White House officials and Republican lawmakers are racing to reach an agreement as the date when the United States is projected to default on its debt approaches.

Jim Tankersley, who covers the White House for The New York Times, looks at the state of the negotiation ...