Richmond Federal Reserve President Thomas Barkin warned about the risks linked to US national debt, which now exceeds 40 trillion dollars. The 30-year Treasury yield has reached levels not seen since before the 2008 global financial crisis. Public debt is approaching 100% of GDP, a ratio that makes bond investors nervous. Barkin described the current debt level as a persistent inflationary wind that the Fed must navigate. Analysts believe monetary policymakers cannot solve a structural debt problem through monetary tools alone.
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