Powell Highlights Urgency of Addressing US Debt Path Despite Economic Strength Federal Reserve Chair Jay Powell has expressed concern about the United States’ high budget deficits, warning that the current level of spending is unsustainable given the strong economy and low unemployment rate. Powell emphasized the need to address fiscal imbalances “sooner rather than later,” noting that while the current debt level is manageable, the trajectory is not. His comments come amid growing worries about rising national debt, projected to reach 99% of GDP this year and potentially 122% by 2034. Powell’s statements highlight the tension between fiscal policy and monetary policy, especially as both major political parties seem unlikely to prioritize deficit reduction in the upcoming election. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Shines Amid Tough Year for Commodity Returns in 2023 READ MORE Fed's Current Economic Outlook and the Latest Rate Cut Speculations READ MORE Copper to $12,000, Gold to $2,700, Says Goldman Sachs READ MORE Gold Gains on Fed Rate Cut Hopes; Copper Prices Rebound READ MORE Hidden Debt: How 'Buy Now, Pay Later' Is Clouding America's Economic Outlook READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment