Fed's Powell Says Raising Debt Ceiling Is 'Only Way Out'

The transcript discusses the critical role of Congress in addressing policy issues, particularly the need to raise the debt ceiling to avoid adverse economic consequences. It highlights the potential harm of a debt default and the importance of maintaining the United States' full faith and credit. The discussion also touches on market reactions and the expectation that the situation will resolve as it has in the past.

What is the only solution mentioned to address the problem discussed in the first section?

• Increasing taxes

• Raising the debt ceiling

• Cutting government spending

• Implementing new policies

What could be the potential impact of not raising the debt ceiling?

• Increased government efficiency

• Improved international relations

• Extraordinary adverse consequences

• Minimal economic disruption

What is the speaker's view on the consequences of a debt default?

• It would have no impact

• It could cause longstanding harm

• It would improve economic stability

• It would lead to immediate recovery

What is the abstract question discussed in the third section?

• The role of Congress in policy making

• The impact of debt default on the economy

• The history of economic policies

• The benefits of raising the debt ceiling

What do markets and observers tend to believe about the debt ceiling issue?

• It will not be resolved

• It will work out as it has in the past

• It will require international intervention

• It will lead to a financial crisis