Federal Reserve Governor Christopher Waller said Thursday that while the United States’ debt trajectory is "unsustainable," it does not pose an immediate economic threat and can be managed over the long term. Speaking at an event on 28 August, Waller argued that the federal budget deficit should generally be kept near 3% of gross domestic product to stabilize debt ratios. He added that, if fiscal discipline is restored, the existing debt burden could be serviced and gradually repaid over several decades.