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.
Why is he worried? We haven't reached infinity yet. It's too late to do anything about the rising debt and nobody cares. He needs to stop worrying and to love the free lunch.
See also: https://aftermath2022.blogspot.com/2018/10/yellen-says-rising-deficit-is.html
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