Congress should permanently remove the debt ceiling. But until they do that, the issue affects the Fed in some big ways. Steven Kelly joins the show to talk about how the Fed's 13(13) powers and the Standing Repo Facility might be used. 

On Twitter: @StevenKelly49, @KalebNygaard

Mentioned: Joseph Wang's blogpost "Debt Ceiling Procedures [RESTRICTED FR]", Steven's article "Cruel and Unusual Circumstances: The Fed's Use and Misuse of Penalty Rates"