Economics

Economists Worry That MMT Is Winning the Argument in Washington

  • ‘Boogeyman’ of high rates loses fear factor as yields slide
  • Citigroup’s Mann says monetary policy is creating fiscal space

Photographer: Joshua Roberts/Bloomberg

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U.S. budget deficits and the national debt are on track to keep growing because both President Donald Trump and his Democratic rivals want to use low interest rates to finance more spending -- in effect embracing some form of Modern Monetary Theory, business economists said at a debate on the topic Monday.