mo4ch:>Fed chair is ‘very worried’ about ballooning debt US will inevitably face | Mo4ch News
The head of the US Federal Reserve, Jerome Powell, is concerned about US debt, which has recently topped $21.9 trillion, according to US Treasury Department data.“I’m very worried about it,” the Fed chief told participants of The Economic Club of Washington, DC on Thursday. “From the Fed’s standpoint, we’re really looking at a business cycle kind of length: that’s our frame of reference.”Just one day before his statement, the overall US deficit was more than $21.93 trillion – $16 billion of which is owed by the public and $5.8 by intragovernmental holdings, US Treasury data showed as of January 9. Thus, the annual surge in 2018 topped $1 trillion. Also on rt.comUS debt soars nearly $1.4 trillion from last Christmas, rising $44,000 per second“The long-run fiscal, nonsustainability of the US federal government isn’t really something that plays into the medium term that is relevant for our policy decisions,” Powell added. “It’s a long-run issue that we definitely need to face, and ultima…