Federal Reserve Chairman Powell says the US is on an "unsustainable fiscal path" as the debt burden mounts
Powell said the Fed needs "more confidence" in the U.S. economy before it can begin cutting interest rates
Federal Reserve Chairman Jerome Powell warns that the United States is on an "unsustainable fiscal path" and that debt is already outpacing growth in the economy as a whole.
In a Jan. 4 interview with 60 Minutes, Powell said it's "past time" for US elected officials to start a "grown-up discussion" about reducing debt levels in the economy.
In the long term, the United States is on an unsustainable fiscal path. Powell said the US federal government is on an unsustainable fiscal path, which means the debt is growing faster than the economy.
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It fell late last week when the Federal Reserve kept interest rates on hold between 5.25% and 5.50%, and the central bank dashed hopes of any rate cut in March, saying it needed "further assurance" that inflationary pressures would be contained before Doing so is countered
