How High Can Uncle Sam Afford Interest Rates to Rise?

In Analysis by Michael Rae

How high can Uncle Sam afford interest rates to rise?
That has become more than an academic question since President Biden signed the American Rescue Plan Act into law in March 2021. The act marked the beginning of a surge of inflation for American consumers, which reached 9.1% in June 2022.
The Federal Reserve has been hiking interest rates to fight that inflation. Since March 2021, the Federal Funds Rate has risen from 0.07% in March 2021 to 1.21% in June 2021, with another .07 increase recently announced. That increase is forcing the interest rates the U.S. government pays on the trillions

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