Federal Debt in the Financial Accounts of the United States

Posted: 31 Oct 2015

See all articles by Marco Cagetti

Marco Cagetti

University of Virginia; Federal Reserve Bank of Chicago

Matthew Hoops

Board of Governors of the Federal Reserve System

Susan Hume McIntosh

Board of Governors of the Federal Reserve System

Date Written: October, 2015

Abstract

This note explains the concept of federal debt in the Financial Accounts of the United States, how it has recently changed, and how it differs from other commonly cited measures of federal debt. As described below, a key factor is the treatment of intragovernmental holdings of U.S. debt securities.

Suggested Citation

Cagetti, Marco and Cagetti, Marco and Hoops, Matthew and Hume McIntosh, Susan, Federal Debt in the Financial Accounts of the United States (October, 2015). FEDS Notes No. 2015-10-08-1, Available at SSRN: https://ssrn.com/abstract=3916622 or http://dx.doi.org/10.17016/2380-7172.1641

Marco Cagetti (Contact Author)

University of Virginia ( email )

1400 University Ave
Charlottesville, VA 22903
United States

Federal Reserve Bank of Chicago ( email )

230 South LaSalle Street
Chicago, IL 60604
United States

Matthew Hoops

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Susan Hume McIntosh

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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