Why Jerome Powell Is Worried About Growing Student Debt: Chart

(Bloomberg) -- Jerome Powell is concerned about the finances of America’s youth. In testimony to the Senate Banking Committee on Thursday, the head of the Federal Reserve said that growing student debt "absolutely could hold back growth" in the U.S. economy. Total student debt climbed to $1.4 trillion in the fourth quarter of 2017, the highest in New York Federal Reserve data going back to 2003.

To contact the reporter on this story: Sophie Caronello in Washington at scaronello@bloomberg.net.

To contact the editors responsible for this story: Cesca Antonelli at fantonelli@bloomberg.net, Alister Bull

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