{"id":52852,"date":"2020-04-29T15:35:40","date_gmt":"2020-04-29T20:35:40","guid":{"rendered":"https:\/\/olduvai.ca\/?p=52852"},"modified":"2020-04-29T15:35:45","modified_gmt":"2020-04-29T20:35:45","slug":"powell-now-is-not-the-time-to-be-concerned-about-debt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=52852","title":{"rendered":"Powell: &#8220;Now Is Not The Time To Be Concerned About Debt&#8221;"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/markets\/powell-now-not-time-worry-about-debt\">Powell: &#8220;Now Is Not The Time To Be Concerned About Debt&#8221;<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In what was perhaps the most illuminating soundbite from the Powell press conference, in response to a question about the sustainability of the US fiscal trajectory in general, and the soaring debt and deficit in particular &#8211; both of which the Fed is now directly monetizing thanks to MMT\/Helicopter Money, the Fed Chairman was laconic: &#8220;<strong>this is not the time&#8221; to be concerned about debt.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/twitter.com\/Bitcoin\"><\/a><a href=\"https:\/\/twitter.com\/Bitcoin\"><strong>Bitcoin<\/strong>@Bitcoin<\/a><a href=\"https:\/\/twitter.com\/Bitcoin\/status\/1255576059304710144\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jerome Powell, Chair of the Federal Reserve: &#8220;The debt is growing faster than the economy. This is not the time to act upon those concerns&#8221;<br><br>Time for Plan \u20bf<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/ext_tw_video_thumb\/1255575703770324997\/pu\/img\/pvXpiMtF7DiExfuB?format=jpg&amp;name=small\" alt=\"Embedded video\"\/><\/figure>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">Fair enough, in response we will be just as laconic and use the CBO&#8217;s\u00a0<a href=\"https:\/\/www.cbo.gov\/system\/files\/2020-01\/56020-CBO-Outlook.pdf\">latest long-term debt to GDP forecast\u00a0<\/a>to ask the Chairman\u00a0<em><strong>just when\u00a0<\/strong><\/em>will it be the time to be concerned about the Federal debt. For the benefit of the Fed Chair we have conveniently provided several possible answers.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/debt%20trajectory.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/debt%20trajectory.jpg?itok=OCUb3F21\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Powell: &#8220;Now Is Not The Time To Be Concerned About Debt&#8221; In what was perhaps the most illuminating soundbite from the Powell press conference, in response to a question about the sustainability of the US fiscal trajectory in general, and the soaring debt and deficit in particular &#8211; both of which the Fed is now [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,5981,16888,17970,4318],"class_list":["post-52852","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-helicopter-money","tag-jerome-powell","tag-modern-monetary-theory","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52852"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52852\/revisions"}],"predecessor-version":[{"id":52853,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52852\/revisions\/52853"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}