Posted 2/15/2024, 10:50:00 AM
FedEx's Smith Warns Soaring US Debt Threatens Dollar's Reserve Status
- FedEx founder Fred Smith warns U.S. national debt level of over $34 trillion is "unsustainable"
- Smith echoes concerns raised by Fed Chairman and JPMorgan Chase CEO Jamie Dimon about mounting debt
- Smith says political leadership needed to address "extreme and unprecedented dangers" of financial instability
- Dollar remaining global reserve currency at risk from countries seeking to "dethrone" it
- Smith warns U.S. living standards at risk if dollar loses reserve status and bonds can't be sold
