Fed's Powell speaks before the House Budget Committee.
Q&A highlights today from Fed Chair Fed Powell.
- US debt growing faster than economy. That is unsustainable
- Labor force participation is a pressing US issue
- Need an economy that is growing faster than the debt
- Ultimately the United States will have to get on a sustainable debt path
- Trade tensions have contribute to manufacturing recession this year
- Risk of spillover from trade tension is something they monitor, but is not impacting the broader economy
- Effects of tariffs are not currently that large in context of the whole US economy
- Consumers are driving the US economy
- People at the lower end of the wage scale have gotten the bulk of the benefits
- well-financed infrastructure can contribute to increasing productivity and US economy
- investment in infrastructure could be very helpful for US economy
- Fed has less room to cut in low rate environment
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