The Biden administration's income-driven repayment (IDR) plan, Saving on a Valuable Education (SAVE), is at the center of legal disputes affecting millions of borrowers and billions in loan balances. In a new explainer series, Sarah Reber and Sarah Turner explore the history, purpose, and future of IDR policy, what current plans exist, and the impact of litigation on borrowers and taxpayers.
Treasury market resilience.Nellie Liang discusses efforts in recent years to strengthen U.S. Treasury market resilience, making the case that resilience is ever more important as Treasury debt is projected to grow rapidly and chaotically, and uncertain policies will make shocks large.
US bilateral trade deficits. In light of the Trump administration's focus on bilateral trade deficits, Gian Maria Milesi-Ferretti highlights research on the correlation between trade and financial flows at the bilateral level, finding that the countries that have run large current account surpluses vis-à-vis the U.S. have not been the largest investors.
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