2026-10-05 When Debt Math Breaks: The Fed, Inflation and What Comes Next

Could the U.S. national debt and rising Treasury yields force the Federal Reserve into a new round of money creation? Dennis Tubbergen examines the growing U.S. debt crisis, federal deficits, rising interest costs, inflation, Treasury bond yields, and the enormous amount of government debt that must be refinanced in the years ahead. Economist Dr. Jonathan Newman joins Dennis to discuss Federal Reserve independence, the relationship between the Fed and U.S. Treasury, debt monetization, interest rates, Modern Monetary Theory (MMT), and his forthcoming Anti-MMT book. Dennis then explores what could happen if bond investors lose confidence in U.S. government debt, including the possibility of Federal Reserve yield curve control, renewed inflation, and declining purchasing power. For retirement investors concerned about the national debt, inflation, interest rates, bonds, monetary policy, and protecting wealth, this episode examines what the debt math may mean for your financial future. Dr. Jonathan Newman is a Fellow at the Mises Institute. He earned his PhD at Auburn University while a Research Fellow at the Mises Institute. He was the recipient of the 2021 Gary G. Schlarbaum Award to a Promising Young Scholar for Excellence in Research and Teaching. Previously, he was Associate Professor of Economics and Finance at Bryan College. He has published in the Quarterly Journal of Austrian Economics and in volumes edited by Matthew McCaffrey and Per Bylund. His research focuses on Austrian economics, inflation and business cycles, and the history of economic thought. To learn more about our guest, Jonathan Newman, visit Mises.org. To learn more about Retirement Lifestyle Advocates, please visit our website at www.RetirementLifestyleAdvocates.com. Retirement Lifestyle Advocates with Dennis Tubbergen Weekly economic commentary and expert interviews. Learn more at RetirementLifestyleAdvocates.com