Blackstone Group President Jon Gray and Federal Reserve Governor Christopher Waller said that the fiscal pressure faced by France sounded a wake-up call for governments that spent a lot of money, but since the US economic growth rate is much higher, these risks are not that urgent in the US. Gray said, “We are now facing some degree of reality testing.” He was referring to the lack of financial sustainability in Western governments, which has been reflected in rising bond yields in developed countries. He said that large-scale war-related spending, technology and AI investments have led the market to believe that some countries “have fiscal deficits far higher than their own economic growth rates — and what is worrying is that shocks will always come unexpectedly.”
Zhitongcaijing · 1d ago
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Blackstone Group President Jon Gray and Federal Reserve Governor Christopher Waller said that the fiscal pressure faced by France sounded a wake-up call for governments that spent a lot of money, but since the US economic growth rate is much higher, these risks are not that urgent in the US. Gray said, “We are now facing some degree of reality testing.” He was referring to the lack of financial sustainability in Western governments, which has been reflected in rising bond yields in developed countries. He said that large-scale war-related spending, technology and AI investments have led the market to believe that some countries “have fiscal deficits far higher than their own economic growth rates — and what is worrying is that shocks will always come unexpectedly.”
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