CEPR logo

Fact-based, data-driven research and analysis to advance democratic debate on vital issues shaping people’s lives.

Center for Economic and Policy Research
1611 Connecticut Ave. NW
Suite 400
Washington, DC 20009

Tel: 202-293-5380
Fax: 202-588-1356
https://cepr.net

Close

On This Page

That’s what the NYT told readers today. It quoted House Minority Whip Steny Hoyer as saying:

“The markets have made clear that a short-term extension is not sufficient and would result in very serious consequences.” Actually the markets make their sentiments known through movements in interest rates. And these movements show no evidence whatsoever that the markets would be concerned about a short-term extension of the debt ceiling.

If Mr. Hoyer thinks that the “markets have made clear” that a short-term extension would be unacceptable then he must have some other channel through which he gets information from markets. Reporters should investigate how Mr. Hoyer thinks he comes to know the markets’ sentiments.