#PowellRemarks Economic Club The chairman of the Federal Reserve, Jerome Powell, has expressed his concern about the growing fiscal deficit of the United States. In a recent intervention at the Economic Club of Chicago, he pointed out that cuts in federal discretionary spending will not solve the debt problem, as this type of spending represents a small and decreasing portion of the budget. Powell emphasized the need for bipartisan reforms that address the main components of public spending, such as Medicaid, Medicare, Social Security, and the rising interest payments. He stressed that facing these structural challenges requires cooperation between both political parties.
