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Apr 23, 2019    08:33:45 AM

Author Topic: Fed Chairman Powell 'very worried' about growing amount of US debt as new highs top $1 trillion  (Read 32 times)

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Fed Chairman Powell 'very worried' about growing amount of US debt as new highs top $1 trillion

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Federal Reserve Chairman Jerome Powell is concerned about the ballooning amount of United States debt. "I'm very worried about it," Powell said at The Economic Club of Washington, D.C. "From the Fed's standpoint, we're really looking at a business cycle length: that's our frame of reference. The long-run fiscal, nonsustainability of the U.S. federal government isn't really something that plays into the medium term that is relevant for our policy decisions." However, "it's a long-run issue that we definitely need to face, and ultimately, will have no choice but to face," he added. The Fed chief's comments came as the annual U.S. deficit reaches new sustained highs above $1 trillion, a fact many economists worry could spell trouble for future generations. Annual deficits have topped $1 trillion before, but never during a time of sustained economic growth like now, raising concern about what would happen if a recession hits.
Source: Fed Chairman Powell 'very worried' about growing amount of US debt as new highs top $1 trillion

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We’ve Reached the Point of Debt Saturation – Bill Holter…”When credit breaks down, then distribution breaks down. If credit doesn’t come back up, then distribution is gone.”

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Last post Nov 28, 2018    01:19:13 PM
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Biggest Ever Debt & Dollar Crisis Coming– Peter Schiff…” It’s just like the 2008 financial crisis, people didn’t understand what was coming. I did.”

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Last post Feb 07, 2018    01:00:29 PM
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SUSTAINABILITY: As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military. “Tax cuts, spending increases and higher interest rates could make it harder to respond to future recessions and deal with other needs.”

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Last post Sep 30, 2018    02:07:11 AM
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