Fed chair plays down fear of corp debt bust despite near-record high

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By Phil Thornton
23 May 2019

Business debt has reached near record levels that should give businesses and investors reason to “pause and reflect”, warned Jerome Powell, chair of the US Federal Reserve, this week.

Powell said the pace of growth in debt at a time when lenders were loosening underwriting standards had “similarities” with the build-up in sub-prime mortgage debt that triggered the 2008 global financial crisis.

However, he said the financial system today appeared strong enough to handle potential business sector ...

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