US Treasury's David Zervos pushes back on IMF $40T warning
The US Treasury isn't too worried about the International Monetary Fund's (IMF) latest concerns over US debt.
David Zervos, a newly appointed counselor to the Treasury Secretary, pushed back, saying the IMF hasn't exactly nailed its economic predictions in the past.
This comes after the IMF warned that just hoping for more economic growth won't solve things, especially with US debt now topping $40 trillion and 10-year Treasury yields remaining above 5%.
Experts uneasy over rising interest payments
Zervos pointed out that the IMF has made some big forecasting errors before, like missing signs in 2008 and getting it wrong in Southeast Asia and Russia.
While Scott Bessent thinks growth could help manage debt, experts worldwide are still uneasy as interest payments on global debt keep climbing.