<p>Julia Hermann hosts Steven Friedman, Managing Director and Senior Macroeconomist at MacKay Shields, for a special recording of Market Matters on the 34th floor of the New York Life building in Manhattan. Join Julia and Steve for a deep dive into the sustainability – or lack thereof – of public debt in the United States. Can the U.S. keep up its pace of spending? What does the Big Beautiful Bill mean for the debt trajectory? Are interest payments spiraling out of control? We answer these questions and more on this week’s episode.   </p>

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The empire of IOU: the future of U.S. sovereign debt (July 28, 2025)

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