Federal Reserve Chairman Jerome Powell has said that US government debt is on an ‘unsustainable path’ while admitting that he underestimated the threat of inflation and warning that a recession is possible.
Powell’s remarks came in testimony before the House Financial Services Committee on Thursday, as the powerful Fed chair wrapped up a second day of appearances on Capitol Hill.
‘The US is on an unsustainable fiscal path, meaning the debt is growing faster than the economy,’ said Powell. ‘By…
