Fed Chair says don't worry about a corporate debt crisis. Because they were so good at anticipating the mortgage one.

Jay Powell said regulators are co-operating to better understand the risks presented by leveraged lending, and debts among companies have reached a level that should “give businesses and investors reason to pause and reflect”. 

“However, the parallels to the mortgage boom that led to the global financial crisis are not fully convincing,” Mr Powell said in a speech in Florida. “Most importantly, the financial system today appears strong enough to handle potential business-sector losses, which was manifestly not the case a decade ago with subprime mortgages.” 

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One problem, the business sector is the source of all government revenue