Now Is the Time to Take Steps to Get Debt Under Control, Says Northern Trust

Chair Powell discusses the risks of leveraged lending and the high levels of global debt, emphasizing the need for financial stability. He highlights the resilience of the US financial system, strengthened by increased capital and stress testing. Powell also addresses wage dynamics, inflation, and trade tensions with China, noting the challenges these pose to economic policy.

What is the significance of the stress testing program mentioned by the speaker?

What challenges does the Fed face regarding wage dynamics and trade tensions?