Jerome Powell Says the Federal Deficit Is “Unsustainable” Even as Fed Policy Stokes Record Surge in Household Borrowing

Jerome Powell Says the Federal Deficit Is “Unsustainable” Even as Fed Policy Stokes Record Surge in Household Borrowing

Fed Chair Jerome Powell sounds the alarm on U.S. federal debt. The federal deficit is forecast to swell to $1.1 trillion. U.S. household debt reached a new record high in the third quarter. Jerome Powell has presided over three interest rate cuts as Federal Reserve Chairman, but now believes debt is a problem. Of course,…

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