Yellen warns of debt impact on productivity
Fed chair states in “strongest possible terms” that current government spending is unsustainable
Janet Yellen issued the US Congress with a warning on the country’s debt situation, saying the current situation is unsustainable and may come to harm productivity, during testimony on July 12.
The Federal Reserve chair told the House of Representatives’ Financial Services Committee she wanted to state in the “strongest possible terms” that current spending by the government cannot go on.
A committee member had shown her a “debt clock”, presenting the US debt as a constantly increasing figure
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