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Jan 10 - Fed Chairman Powell says he is ‘very worried’ about growing amount of U.S. debt


 
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 3 months ago '11        #1
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Sin 1982 heat pts1982
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Jan 10 - Fed Chairman Powell says he is ‘very worried’ about growing amount of U.S. debt
 

 
Federal Reserve Chairman Jerome Powell is concerned about the ballooning amount of United States debt.

“I’m very worried about it,” Powell said at The Economic Club of Washington, D.C. “From the Fed’s standpoint, we’re really looking at a business cycle length: that’s our frame of reference. The long-run fiscal, nonsustainability of the U.S. federal government isn’t really something that plays into the medium term that is relevant for our policy decisions.”

However, “it’s a long-run issue that we definitely need to face, and ultimately, will have no choice but to face,” he added.

The Fed chief’s comments came as the annual U.S. deficit reaches new sustained highs above $1 trillion, a fact many economists worry could spell trouble for future generations. Annual deficits have topped $1 trillion before, but never during a time of sustained economic growth like now, raising concern about what would happen if a recession hits.

Total U.S. debt is about $21.9 trillion, of which $16 trillion is owed by the public. In part because of continued rate increases under Powell, the interest cost on that debt could start to become a bigger and bigger burden.

Wall Street’s “bond king” and respected financial prognosticator Jeffrey Gundlach said in December that the Fed seems to be on a “suicide mission,” raising rates while the government deficit increases as a share of GDP. Normally when the deficit is expanding, the Fed would be lowering interest rates.

Gundlach added that the economy appears to be slowing “and maybe the supply makes it so rates don’t go down with economic weakness.”

Fitch Ratings — one of the top credit rating agencies that analyzes companies and governments alike — said Wednesday that the ongoing government shutdown could soon start to impact its ability to pass a budget and could impact the government’s triple-A sovereign score.

visit this link https://www.cnbc.com/2019 .. f-us-debt.html
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54 comments for "Jan 10 - Fed Chairman Powell says he is ‘very worried’ about growing amount of U.S. debt"

 3 months ago '11        #2
Sin 1982 heat pts1982 OP
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 3 months ago '13        #3
boopityboop 25 heat pts25
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Buy gold?

 3 months ago '11        #4
Sin 1982 heat pts1982 OP
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 boopityboop said
Buy gold?


[pic - click to view]



It’s been climbing since the market hit a low in October
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 3 months ago '13        #5
boopityboop 25 heat pts25
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 Sin said

[pic - click to view]



It’s been climbing since the market hit a low in October
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 3 months ago '11        #6
Sin 1982 heat pts1982 OP
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 boopityboop said


[pic - click to view]



More telling is the drop dollar vs yuan since trade negotiations stared
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 3 months ago '07        #7
DoctorNBA 55 heat pts55
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Its been awhile since we had a president who actually knocked down the deficit. Not George W, Not Obama, Not Trump. There's one thing they all have in common I guess.
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 3 months ago '11        #8
Sin 1982 heat pts1982 OP
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 DoctorNBA said
Its been awhile since we had a president who actually knocked down the deficit. Not George W, Not Obama, Not Trump. There's one thing they all have in common I guess.
When Presidential candidate mike Bloomberg finish being mayor of NYC he left with a 2 billion surplus
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 3 months ago '07        #9
DoctorNBA 55 heat pts55
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 Sin said
When Presidential candidate mike Bloomberg finish being mayor of NYC he left with a 2 billion surplus
So u voting for him if he runs?

 3 months ago '17        #10
LeG.O.A.T 121 heat pts121
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Invest in Gold while you can.

Quit buying iPhones and Jordan's.

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 3 months ago '11        #11
Sin 1982 heat pts1982 OP
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 DoctorNBA said
So u voting for him if he runs?
Nobody has my vote yet, i need to see what their platform and campaign promises are

Off of past history alone he’s my front runner but that could all change once he starts talking platform
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 3 months ago '16        #12
MadMarlo 
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This white conservative Republican thing is getting blown up week by week..

What do republicans even stand for anymore?

.............

All they care about is their "heritage and culture"...

GOP bout to be DOA


Bet dat
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 3 months ago '07        #13
DoctorNBA 55 heat pts55
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 MadMarlo said
This white conservative Republican thing is getting blown up week by week..

What do republicans even stand for anymore?

.............

All they care about is their "heritage and culture"...

GOP bout to be DOA


Bet dat
I aint saying one way or the other but this was said about 3 yrs ago as well. The GOP then took over the Presidency and had control of the Senate and House.
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 3 months ago '16        #14
MadMarlo 
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 DoctorNBA said
I aint saying one way or the other but this was said about 3 yrs ago as well. The GOP then took over the Presidency and had control of the Senate and House.
Well the former president used to be black

That literally never happened

No metric can figure how that played in electing the president after that...

The same thing that got republicans the house and senate is what lost them the house this year....

Come back after 2020 and see who,controls congress

Dems have continued to win popular votes in general elections... This trend will continue
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 3 months ago '06        #15
philly337 27 heat pts27
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 DoctorNBA said
Its been awhile since we had a president who actually knocked down the deficit. Not George W, Not Obama, Not Trump. There's one thing they all have in common I guess.
Lol what? Deficit was over 1 tril his first year in that he inheirted...he cut the deficit 5 of 8 years and like 4 of the last 5 getting it down to around 400bil. Everybody knew this would happen with the tax cuts but noooooo it was going to trickle down to the little man to stimulate the economy and make up for it


Last edited by philly337; 01-11-2019 at 10:01 AM..
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 3 months ago '11        #16
Sin 1982 heat pts1982 OP
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 philly337 said
Lol what? Deficit was over 1 tril his first year in that he i heirted...he cut the defixit 6 like 4 of the last 5 getting it down to around 400bil. Everybody onew this would happen with the tax cuts but noooooo it was going yo teickle down to the little man to stimulate the economy and make up for it
I think trump a*sumed he’d have the trade deals completed by now and we’d be reaping the benefits from those by now

Before the economy slow down took affect
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 3 months ago '07        #17
DoctorNBA 55 heat pts55
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 MadMarlo said
Well the former president used to be black

That literally never happened

No metric can figure how that played in electing the president after that...

The same thing that got republicans the house and senate is what lost them the house this year....

Come back after 2020 and see who,controls congress

Dems have continued to win popular votes in general elections... This trend will continue
Once again I'm not sayin the GOP will have 2 or even 1 branch of govt in 2020. I'm saying the same energy was had a few years ago and ppl were saying "come back in 2016". I literally heard it on every news channel and every news website. Hillary was a -350 favorite to win president and all that.

And then see what happened.......Look I would agree that its more likely to be correct this time just based off chance alone. Those ppl are bound to be right eventually.

 3 months ago '07        #18
DoctorNBA 55 heat pts55
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 philly337 said
Lol what? Deficit was over 1 tril his first year in that he i heirted...he cut the defixit 6 like 4 of the last 5 getting it down to around 400bil. Everybody onew this would happen with the tax cuts but noooooo it was going yo teickle down to the little man to stimulate the economy and make up for it
I can barely read your statement. Hope this helps-

Deficits:

FY 2012 - $1.087 trillion.
FY 2011 - $1.300 trillion.
FY 2010 - $1.547 trillion. This is the sum of $1.294 trillion plus $253 billion from the Obama Stimulus Act that was attached to the FY 2009 budge
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 3 months ago '16        #19
MadMarlo 
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 DoctorNBA said
Once again I'm not sayin the GOP will have 2 or even 1 branch of govt in 2020. I'm saying the same energy was had a few years ago and ppl were saying "come back in 2016". I literally heard it on every news channel and every news website. Hillary was a -350 favorite to win president and all that.

And then see what happened.......Look I would agree that its more likely to be correct this time just based off chance alone. Those ppl are bound to be right eventually.
Hilary was old news.. She literally been around since the early 90s...

The fact is... After 8 years of trying to repeal and replace the first black president, republicans had to settle with Donald trump ...



That tells me everything I need to know going forward ....GOP is out of touch ...


They have no chance in 2020

 3 months ago '06        #20
philly337 27 heat pts27
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 DoctorNBA said
I can barely read your statement. Hope this helps-

Deficits:

FY 2012 - $1.087 trillion.
FY 2011 - $1.300 trillion.
FY 2010 - $1.547 trillion. This is the sum of $1.294 trillion plus $253 billion from the Obama Stimulus Act that was attached to the FY 2009
Was driving...fixed for you since youre having trouble figuring out "i nherited" meant inherited and "defixit" meant deficit lol.


It does help though...help to prove what i said...reduced in 5 of 8 years and down to about 400 bil and reduced 4 of the last 5 years once the economy recovered

09 - 1,413
10 - 1,294
11 - 1,300
12 - 1,087
13 - 679
14 - 485
15 - 438
16 - 585


Last edited by philly337; 01-11-2019 at 10:03 AM..
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 3 months ago '07        #21
DoctorNBA 55 heat pts55
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 MadMarlo said
Hilary was old news.. She literally been around since the early 90s...

The fact is... After 8 years of trying to repeal and replace the first black president, republicans had to settle with Donald trump ...



That tells me everything I need to know going forward ....GOP is out of touch ...


They have no chance in 2020
The establishment didnt want Trump, the voters voted him in. You know the same voters who voted him POTUS.

304-227 victory......U positive they out of touch?
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 3 months ago '07        #22
DoctorNBA 55 heat pts55
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 philly337 said
It does help...help to prove what i said...reduced in 5 of 8 years and down to about 400 bil and reduced 4 of the last 5 years once the economy recovered

09 - 1,413
10 - 1,294
11 - 1,300
12 - 1,087
13 - 679
14 - 485
15 - 438
16 - 585
R u a moron? ALL of these numbers are increasing the deficit. That shows that he is reducing the amount thats increasing the deficit.

If my business loses $10,000 one year and then loses $8,000 the next that doesnt make it a good year lol. Better than the previous but still losing $8k is TERRIBLE.

U must be the world's greatest Optimist lolololol.

 3 months ago '16        #23
MadMarlo 
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 DoctorNBA said
The establishment didnt want Trump, the voters voted him in. You know the same voters who voted him POTUS.

304-227 victory......U positive they out of touch?
Less than 90 thousand votes between 3 states


Electoral college doesn't represent the interest of the country.


Btw.... Dems won Michigan. Wisconsin, and Pennsylvania this mid terms ...






Nice try though

 3 months ago '06        #24
Skateboard T 50 heat pts50
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 DoctorNBA said
R u a moron? ALL of these numbers are increasing the deficit. That shows that he is reducing the amount thats increasing the deficit.

If my business loses $10,000 one year and then loses $8,000 the next that doesnt make it a good year lol. Better than the previous but still losing $8k is TERRIBLE.

U must be the world's greatest Optimist lolololol.

...but that's still decreasing the deficit. You said Obama didn't decrease the deficit...yet you literally post numbers that show him decreasing the deficit.

Now you're trying to argue that the problem is he didn't create a surplus, which is correct, but not what your original post was.
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 3 months ago '07        #25
DoctorNBA 55 heat pts55
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 MadMarlo said
Less than 90 thousand votes between 3 states


Electoral college doesn't represent the interest of the country.


Btw.... Dems won Michigan. Wisconsin, and Pennsylvania this mid terms ...






Nice try though
I'm trying to decide if the Dems knew the rules before the election. Did they know that it wasn't a popular vote election? They lost 3 votes by so close, seems like they would've known to campaign there or no?
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