Fed can’t protect US economy from debt default, Powell says

Bloomberg/Jonelle Marte/5-3-2023

“We’d be in unchartered territory and the consequences on the US economy could be highly uncertain and adverse. No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time.” – Jerome Powell, Chairman of the Federal Reserve

USAGOLD note: O c’mon, Chairman Powell, do you mean to say that the Fed’s not interested in adding a trillion-dollar platinum coin to its balance sheet?