Rogoff Says Biden, Trump Favor ‘Blowing Up’ US Debt
- Duo are the most protectionist US presidents ‘in a long time’
- Harvard economist says ‘free lunch’ era of low rates is gone
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Harvard University economics professor Kenneth Rogoff said both President Joe Biden and his predecessor and challenger Donald Trump risk sending US debt levels into dangerous territory as Washington fails to grasp that the era of ultra-low interest rates won’t come back.
“Washington in general has a very relaxed attitude towards debt that I think they’re going to be sorry about,” Rogoff said on Bloomberg Television’s Wall Street Week with David Westin. “It’s just not the free lunch that Congress and perhaps the two presidential candidates have gotten used to.”