This podcast episode discusses the recent FOMC meeting, its implications, and the potential risks associated with the upcoming wave of corporate debt maturities. While the Fed has made progress in bringing down inflation without significantly increasing unemployment, the rising wave of corporate debt maturities represents a notable risk to the US economy. As a trillion dollars of corporate debt matures through the end of 2024 and interest rates remain elevated, refinancing this debt could lead to higher default rates, especially among below investment-grade borrowers. This raises concerns, given the ongoing challenges in the regional banking sector. The economists conclude that the rising wave of corporate debt maturities is a risk to the US economy that should be monitored closely.