Why Investors Should Pay More Attention to Congress Than the Fed

ABOUT THE EPISODE Think the Fed moves markets? Congress may have a bigger impact than most investors realize. Courtney Wiegand, Assistant Professor of Finance at the Wharton School, explains how congressional budget decisions can have a direct impact on financial markets. Drawing on her research into fiscal policy shocks, she explores how changing deficit expectations affect bond yields, inflation expectations, investor risk premiums, and even the path of monetary policy. The conversation examines why markets react to deficit news, how fiscal and monetary policy interact, and what rising federal debt could mean for investors in the years ahead.

ABOUT THE PODCAST This Week in Business features interviews with Wharton faculty about the latest news, fascinating trends, and issues impacting both consumers and the business world. Episodes are recorded at the Wharton School and published twice per week.

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