Fed Chair Powell: ‘The Federal Budget Is on an Unsustainable Path with High and Rising Debt’

EXCERPT:

POWELL: “As noted in the Congressional Budget Office's recent long-term budget outlook, the federal budget is on an unsustainable path with high and rising debt. Over time this outlook could restrain fiscal policy makers’ willingness or ability to support economic activity during a downturn. In addition, I remain concerned that the high and rising federal debt can in the longer term restrain private investment and thereby reduce productivity and overall growth.”