FIRST AIRED: February 26, 2019

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our committee is really monitoring the the the the cross currents we call in which %HESITATION really the risks and for an hour we're gonna be patient with our policy and %HESITATION , and allow things to take time to clarify Federer's archer Majuro Powell took the feds new message to Capitol Hill testifying before the Senate banking committee the fed in January decided to shift its policy to hold rates where they are until further notice he told lawmakers Tuesday that while the outlook for the US economy is favorable he sees another dark clouds on the horizon to warrant a wait and see approach before making another move over the past few months we have seen some cross currents and conflicting signals , financial markets have become more volatile toward year end and financial conditions are now less supportive of growth than they were earlier last year , growth has slowed in some major foreign economies particularly China and Europe , and uncertainty is elevated around some unresolved government policy issues including brexit an ongoing trade negotiations senators use the twice yearly public chat to pepper Powell with all kinds of questions on the white house's trade policy lifting the debt ceiling proposed legislation to clamp down on corporate stock buybacks and even the financial impact of climate change and cyber security Powell did his best to stay away from any political land mines but did issue a warning on the nation's twenty two trillion dollar debt US federal government is on an unsustainable fiscal path by which , is meant that the that debt as a percentage of GDP is growing and now growing sharply going growing quickly up faster in and that's that is unsustainable by definition you we're going to have to either spend less or raise more revenue that's advice neither side of the political aisle can agree on no matter which side is in control Powell testified before the house financial services committee on Wednesday