Former Fed Economist Breaks Down the National Debt and the Current State of the U.S. Economy

In today’s ever-changing business landscape, understanding the economy, national debt, and their impact on your trade is a crucial tool. On this episode of Paychex THRIVE, former Federal Reserve economist, Bloomberg columnist, and founder of Sahm Consulting, Claudia Sahm, offers valuable insights to help listeners navigate the complexities of the U.S. economy. She discusses its key aspects, ranging from the role of treasury securities and national debt to the impact of fiscal policies on national economic health. Learn about the unique credibility of U.S. debt securities and how international demand for these assets bolsters the nation's ability to manage its rising national debt sustainably.

 

Topics include:

00:00 – Welcome Claudia Sahm

01:14 – Introduction to Claudia Sahm's background and work history

03:14 – Discussion on the U.S. economy and national debt

04:36 – Importance of focusing on tax and spend policies

06:58 – Claudia’s perspective on the sustainability of government deficit

09:13 – Considerations for future economic policies

11:31 – Discussion on the size of the federal government as it relates to the national debt

13:03 – Importance of reliable government data

14:02 – Claudia’s advice on utilizing data in decision-making

16:02 – Importance of regional and industry-specific data

17:31 – Key metrics to track for understanding the economy

19:15 – The influence of the labor market and consumer spending on the economy

20:25 – Weighing government data against private sector data

21:20 – Discussion on data sources

23:50 – Economic forecast for the near future

28:41 – Influence of presidential elections on the economy

32:23 – Wrap up

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.