12/1/2021, 6:07 PM (Source: TeleTrader)
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US needs to get back on sustainable fiscal path - Powell

The United States "needs to get back on a sustainable fiscal path," Federal Reserve Chair Jerome Powell stressed on Wednesday.

The "right time to do that is when the economy is strong," taxes are "rolling in" and employment is high, he told lawmakers in the US House of Representatives Committee on Financial Services.

The country needs a "longer-term plan to get the economy growing faster than the debt," as "by definition, it's unsustainable" to have the opposite situation, Powell underlined.

Baha Breaking the News (BBN) / MS