Fed Chair Powell: ‘The U.S. Is on an Unsustainable Fiscal Path’

PELLEY voice over Another ░░░░░░░░ hangover after the pandemic ░░░░░░░░ a sharp increase in ░░░░░░░░ national debt 30 years ░░░░░░░░ now it is projected ░░░░░░░░ be 144 trillion or ░░░░░░░░ million per household PELLEY ░░░░░░░░ do you assess the ░░░░░░░░ debt Powell We mostly ░░░░░░░░ very hard not to ░░░░░░░░ on fiscal policy and ░░░░░░░░ know instruct Congress in ░░░░░░░░ to do their job ░░░░░░░░ actually they have oversight ░░░░░░░░ us PELLEY But is ░░░░░░░░ national debt a danger ░░░░░░░░ the economy in your ░░░░░░░░ Powell In the long ░░░░░░░░ the U S is ░░░░░░░░ an unsustainable fiscal path ░░░░░░░░ U S federal government ░░░░░░░░ on an unsustainable fiscal ░░░░░░░░ That just means that ░░░░░░░░ debt is growing faster ░░░░░░░░ the economy PELLEY I ░░░░░░░░ a sense this worries ░░░░░░░░ very much Powell Over ░░░░░░░░ long run of course ░░░░░░░░ does You know effectively ░░░░░░░░ re borrowing from future ░░░░░░░░ It s time for ░░░░░░░░ to get back to ░░░░░░░░ a priority on fiscal ░░░░░░░░ And sooner is better ░░░░░░░░ later.”