Federal Reserve chief Jerome Powell warns that the United States is on an unsustainable fiscal path due to its national debt, which exceeds $34 trillion. He urges elected officials to engage in an adult conversation and prioritize fiscal sustainability. Powell emphasizes the need for the government to address this issue sooner rather than later. In addition, he mentions that rate cuts are unlikely at the next meeting of the rate-setting Federal Open Market Committee (FOMC) in March, and explains that the decision to cut rates will depend on real-time assessments of the risks involved.