• Fed Chair Jerome Powell admitted that he had overestimated the threat of inflation

    11 days ago - By Bésame

    Jerome Powell, the chairman of the Federal Reserve, stated that the US government debt is on a “unsustainable path,” admitted that he had overestimated the threat of inflation, and spoke of the possibility of a recession.
    On Thursday, Powell made his comments during hearing before the House Financial Services Committee, capping off a second day of visits on Capitol Hill for the influential Fed head.
    The debt is increasing faster than the economy, which indicates that the US is on an unsustainable fiscal path, according to Powell. “That is, by definition, unsustainable.”
    According to...
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