Federal Reserve Chairman Jerome Powell reaffirmed on Wednesday that the "path we're on" concerning the United States national debt is unsustainable.
Testifying before the House Financial Services Committee, Powell tried to clarify that he does not believe that "the level of the US debt is not self-unsustainable" but rather the direction it is going.
Commenting briefly on inflation, Powell spoke about "a big crisis" that the COVID-19 pandemic caused, which led to the Fed restricting its monetary policy. He added that the institution will deal with the assessment of what has been done so far and how that reflects on the neutral rate in its annual review at the end of the year.
