US Elections: Lessons From the UK

This podcast explores how the UK's recent budget announcement could impact US fiscal policy. The UK's experience, marked by a delayed budget and market reactions, underscores the difficulties in implementing policies and the gap between elections and actual changes. The US is facing similar fiscal challenges, including increasing interest costs and the urgent need for fiscal consolidation to stabilize its debt-to-GDP ratio. The discussion highlights the uncertainty surrounding US fiscal policy, given the complexities of the budget process and the unpredictable revenue from tariffs. As interest burdens grow, markets will be keenly watching the credibility of US fiscal policy.