In a webinar discussion hosted by the Economic Club of Washington, D.C. Powell said that although the national debt got on an unsustainable path, the present degree of financial debt is sustainable.
" The U.S. government budget plan is on an unsustainable path, implying simply that the debt is growing meaningfully faster than the economic climate," he said. "The present degree of debt is extremely sustainable. And there's no doubt of our capability to solution and issue that debt for the near future."
Powell added that the UNITED STATE government will eventually need to obtain its financial debt back onto a lasting course; nevertheless that should be done when the economy is on more solid ground.
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