US is running a very large deficit at a time: Fed Chair Jerome Powell

‘US is running a very large deficit at a time’: — Fed Chair Jerome Powell The US national debt is projected to rise from 99% of GDP in 2024 to 122% by 2034, according to the US Congressional Budget Office. Meanwhile, the IMF estimates that by 2032, the ratio of US national debt to GDP will exceed 140%. The fund has warned that such growth poses a threat to both the national and global economy. During Joe Biden’s presidency, the US national debt has increased from $28 trillion in 2021 to an unprecedented level of over $34.5 trillion this year. “We’ll have to do something sooner or later, and sooner will be better than later,“ Powell stated. Guess where all the money went? Source: RT news Source: InfoDefenseENGLISH