Fed’s Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000; Up 257% Under ObamaSubmitted by emalvini on Thu, 01/24/2013 - 22:17
Fed’s Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000; Up 257% Under Obama
January 24, 2013
By Terence P. Jeffrey
Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke (AP Photo/Mark Lennihan)
(CNSNews.com) - In data released Thursday afternoon, the Federal Reserve revealed that its holdings of U.S. government debt had increased to an all-time record of $1,696,691,000,000 as of the close of business on Wednesday.
The Fed's holdings of U.S. government debt have increased by 257 percent since President Barack Obama was first inaugurated on Jan. 20, 2009, and the Fed is currently the single largest holder of U.S. government debt.