, Columnist
Let’s Hear It for the Rainy Day Fund No One Noticed
Yellen’s strategy during the debt-ceiling showdown quietly worked, but market and economic impacts are coming through.
Getting a fuller picture of how the Treasury successfully played for time.
Photographer: Nathan Howard/BloombergThis article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
It’s difficult to celebrate bad things that didn’t happen. But they have an impact on market and economic outcomes. And so we need to look at the Treasury General Account.