51³Ô¹ÏÍø

Federal Reserve nominee acknowledges federal deficit as unsustainable path, asked about dual mandate at confirmation hearing

Pennsylvania Senator David McCormick asks Federal Reserve Vice Chairman for Supervision nominee Michelle Bowman about national debt in relation to Treasury markets, noting that debt-to-GDP ratio was expected to climb from 98% to about 130% over the next decade, and she responded that fiscal responsibility belonged to Congress and the administration while acknowledging the current fiscal path was unsustainable with debt growing much faster than economic growth, especially concerning given that budget deficits were occurring during a time of full employment at a Senate Banking, Housing and Urban Affairs Committee confirmation hearing.
Pennsylvania Senator David McCormick asks Federal Reserve Vice Chairman for Supervision nominee Michelle Bowman about national debt in relation to Treasury markets, noting that debt-to-GDP ratio was expected to climb from 98% to about 130% over the next decade, and she responded that fiscal responsibility belonged to Congress and the administration while acknowledging the current fiscal path was unsustainable with debt growing much faster than economic growth, especially concerning given that budget deficits were occurring during a time of full employment at a Senate Banking, Housing and Urban Affairs Committee confirmation hearing.
PURCHASE A LICENSE

Get personalized pricing by telling us when, where, and how you want to use this asset.

DETAILS

Restrictions:
Editorial Use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing or cast discredit or dishonor any member of the House or bring the House or any Member into disrepute. Contact your local office for all commercial or promotional uses.
Credit:
FedNet / Getty Images
Editorial #:
2210756944
Collection:
FedNet
Date created:
April 10, 2025
Upload date:
License type:
Rights-ready
Release info:
Not released.ÌýMore information
Clip length:
00:01:09:24
Location:
Washington, DC, United States
Mastered to:
MPEG-4 8-bit H.264 HD 1920x1080 29.97p
Source:
FedNet
Object name:
sba041025x