Rebecca Patterson says US fiscal policy cannot continue unchanged

The former Bridgewater strategist spoke as US public debt surpassed $40 trillion, up a third in less than five years

US fiscal policy cannot continue unchanged, according to Rebecca Patterson, a senior fellow at the Council on Foreign Relations and former chief investment strategist at Bridgewater Associates.

Patterson spoke after total US public debt surpassed $40 trillion for the first time, rising by about a third in less than five years. She said lawmakers have yet to address historically wide fiscal deficits.

The comments came as investors weighed the effect of borrowing and rising debt-service costs on markets. Patterson said policymakers need to confront the fiscal imbalance before it creates broader economic and market risks.

Patterson discussed the outlook with Bloomberg Money hosts Scarlet Fu and Tom Keene.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

US fiscal policy cannot continue unchanged, according to Rebecca Patterson, a senior fellow at the Council on Foreign Relations and former chief investment strategist at Bridgewater Associates.

Patterson discussed the outlook with Bloomberg Money hosts Scarlet Fu and Tom Keene.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.