Notable quote

In the long run, the U.S. is on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy ... effectively we're borrowing from future generations. It's time for us to get back to putting a priority on fiscal sustainability and sooner is better than later. — Federal Reserve Chair Jerome Powell during a "60 Minutes" interview with Scott Pelley on CBS released Sunday, Feb. 4. According to data from the U.S. Treasury, the national debt topped $34 trillion for the first time ever in early January.

Powell said the economy is strong and that the country is "making good progress" with lowering inflation rates.

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