Feb 1 (Reuters) - Congress lifting the debt ceiling is
the "only way forward" to allow the federal government to meet
its obligations and no one should expect the Federal Reserve to
be able to shield the economy from the effects of a failure to
do so, Fed Chair Jerome Powell said on Wednesday.
"There is only one way forward here, and that’s for Congress
to raise the debt ceiling," Powell said in response to a
question at his press conference following the Fed's latest
interest-rate-setting meeting.
"No one should assume that the Fed can protect the economy
from the consequences of failing to act in a timely manner."
(Reporting By Dan Burns
Editing by Chris Reese)
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