Harvard economist warns of fragile economy

Photo: Katrina.Tuliao

Despite an optimistic outlook on the national economy by Fed Chairman Jerome Powell, Harvard economist Martin Feldstein warns that the situation isn’t as good as it seems. In an interview with Fox Business, he said that the 10-year Treasury bond yield, now at its highest since May, could cause a “real challenge” for equity prices, and that could harm consumer spending. He added that if a recession were to occur, the Fed would not be able to offset it due to a low federal funds rate. Watch the full interview here.

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