News In Brief

Volcker warns Congress on big federal deficits

Federal Reserve Board chairman Paul Volcker told senators Thursday the huge federal budget deficit is causing ''disturbing pressures'' on interest rates, developing countries, and money exchange rates.

He warned that if Congress does not agree on legislation to reduce the deficit, the United States will experience either higher interest rates or a declining economy.

You've read  of  free articles. Subscribe to continue.
QR Code to News In Brief
Read this article in
QR Code to Subscription page
Start your subscription today