US Treasury Secretary Janet Yellen testifies during a Senate committee hearing on September 28. The fact that Yellen and Federal Reserve chairman Jerome Powell felt compelled to warn of the grave consequences of a failure to lift the US borrowing limit shows just how polarised US policymaking has become. Photo: EPA-EFE / POOL
US Treasury Secretary Janet Yellen testifies during a Senate committee hearing on September 28. The fact that Yellen and Federal Reserve chairman Jerome Powell felt compelled to warn of the grave consequences of a failure to lift the US borrowing limit shows just how polarised US policymaking has become. Photo: EPA-EFE / POOL
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Despite Evergrande’s woes, investors are worrying more about US policy missteps than China’s

  • With inflation concerns and a contentious debt debate on their hands, the pressure is on Fed policymakers to raise interest rates and withdraw asset support without undermining the fragile economic recovery

US Treasury Secretary Janet Yellen testifies during a Senate committee hearing on September 28. The fact that Yellen and Federal Reserve chairman Jerome Powell felt compelled to warn of the grave consequences of a failure to lift the US borrowing limit shows just how polarised US policymaking has become. Photo: EPA-EFE / POOL
US Treasury Secretary Janet Yellen testifies during a Senate committee hearing on September 28. The fact that Yellen and Federal Reserve chairman Jerome Powell felt compelled to warn of the grave consequences of a failure to lift the US borrowing limit shows just how polarised US policymaking has become. Photo: EPA-EFE / POOL
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