US public debt is 'unsustainable': Fed chief
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The United States is on an "unsustainable" path with regard to its national debt, according to Federal Reserve chief Jerome Powell. The US national debt currently stands at more than $34 trillion. Powell stated that the debt is growing faster than the economy and it is time for elected officials to have an adult conversation about addressing the issue. He also mentioned that it is widely understood that the US needs to prioritize fiscal sustainability. The Federal Reserve recently voted to leave interest rates unchanged and hinted that rate cuts were not imminent. Powell stated that it is unlikely that a rate cut would come at the next meeting in March. He believes inflation will continue to taper off in the first half of 2024 and the Fed will reassess its interest rate target in March.

#UsPublicDebt #FederalReserve #FiscalSustainability

https://www.bssnews.net/business/171809