Last week at the Fed, nothing happened. Usually when nothing happens, we don’t report on it, but in this case it got us thinking. What are the consequences of higher-for-longer? Did the Open Markets Committee leave themselves a trapdoor to push through a series of rate cuts across the back half of the year? And what’s up with rates in Europe and the UK?

In this week’s episode of Cloud 9fin, editor Dan Alderson and distressed debt reporter Will Macadam delve into all of this and more. For more content on monetary policy and its effects on the credit markets, read a piece that Will co-authored here.