Photo: Mary F. Calvert / Reuters
The Chairman of the Federal reserve system (FRS) Jerome Powell said that the growth of the state’s sovereign debt exceeds the rate of economic development of the country. About it reports TASS.
The fed chief noted that there must be bucking the trend, and added that “fiscal policy of the country remains on the path of unsustainable development”. Powell also assured that the regulator does not expect a recession.
Earlier, Russia was eliminated from the list of 33 countries — the largest holders of U.S. debt. Amount of bonds owned now Moscow is less than 30 billion dollars. On the first place in the list is China and Japan.
19 March it was reported that the US national debt reached a new record, exceeding 21 trillion dollars. The share of domestic debt was 5.6 trillion dollars.
One of the campaign promises of Donald trump was the elimination of public debt, however, the year of the presidency, this figure increased by more than a trillion dollars.
Video, photo All from Russia.