In a webinar discussion hosted by the Economic Club of Washington, D.C. Powell said that although the government debt was on an unsustainable path, the current level of debt is sustainable.
“The U.S. federal budget is on an unsustainable path, meaning simply that the debt is growing meaningfully faster than the economy,” he said. “The current level of debt is very sustainable. And there’s no question of our ability to service and issue that debt for the foreseeable future.”
Powell added that the U.S. government will eventually have to get its debt back onto a sustainable path; however that should be done when the economy is on more solid footing.
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