Powell says Fed can’t shield economy from a debt default1 min read . Updated: 02 Feb 2023, 03:34 AM IST
Republicans and Democrats are at odds over raising the federal borrowing cap, which is on track to be breached later this year unless Congress acts
Federal Reserve Chair Jerome Powell warned against any assumption that the central bank can rescue the economy if Congress fails to raise the federal debt ceiling — a move that could force the Treasury into a payments default.
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