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Story summary
- Greg Fleming warned that U.S. debt near $40 trillion and deficits over 5 % of GDP threaten costs, limit the Federal Reserve’s options, and will push 2025 interest payments to $970 billion—more than defense’s $893 billion.
- He said the new Federal Reserve Chair Kevin Warsh must address the debt burden, AI-driven advisory gains, and possible energy shocks.
- Rockefeller Capital Management, valued at $6.6 billion in October, said AI will aid advisers without replacing personal contact.
