Some of America’s biggest banks reported strong profits Tuesday, offering a glimpse into the health of the broader economy.

At a glance, the results suggest that much of the American economy remains strong.

But there are reasons to be cautious.

Banks help power the economy by lending money to people and businesses.

When banks are doing well, it can mean people are spending, businesses are borrowing, and money is moving.

But when borrowing becomes more expensive, the economy can slow down.

And that is exactly what some financial leaders are worried about.

Speaking at a Bloomberg conference in India, Blackstone President Jon Gray warned that governments are borrowing and spending too much money.

He pointed to France and other European countries, where government debt is becoming harder to manage.

Federal Reserve Governor Christopher Waller also discussed the dangers of rising borrowing costs.

When governments borrow heavily, investors may demand higher interest rates to lend them money.

Those higher rates can eventually make mortgages, car loans, and business loans more expensive.

Gray believes the United States is in a stronger position because its economy is growing faster, helped by investment in technology and artificial intelligence.

But even America cannot ignore rising debt forever.

For now, the big banks are still making plenty of money.

But the bigger question is whether the people and businesses borrowing from them can keep doing so.

Bank of America and Morgan Stanley report earnings Wednesday.

Their results will offer more clues about the health of the broader economy and whether trouble may be developing beneath the surface.