Fed Chair Powell (Q&A) when asked about level of debt relative to GDP, says we don't know what the level of debt to GDP would be that would break public finances; level of debt is not unsustainable, it's the path of debt which is unsustainable
Importance
Level 1
- On the debt path, it will not end well if we don't do something soon, but it is not the Fed's job.
- Rate of government debt is growing faster than the economy.
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