Federal Reserve Chair Jerome Powell on Wednesday (Apr 16) reiterated the long-held view of Fed chairs going back decades that growth in the US federal debt needs to be reined in, but he suggested that politicians are going about it the wrong way. "We're running very large deficits at full employment, and this is a situation that we very much need to address" Powell said at an event at the Economic Club of Chicago. "All of this domestic discretionary spending, which is essentially where 100 per