Fink Warns Soaring US Debt Risks Stagnation, Constrains Fed's Inflation Fight
- Larry Fink warns US public debt situation is urgent and getting worse
- Calls for policies to spur economic growth, not just spending cuts and taxes
- Raises prospect of stagnation like Japan's economy in late 1990s/early 2000s
- Says high debt makes fighting inflation much harder for monetary policymakers
- Foreign countries building own capital markets, less likely to buy US debt
