Got Bitcoin? US Fed Warns National Debt Growth Is ‘Not Sustainable’

The head of the United States Federal Reserve has admitted current economic policy is “not sustainable” — but that it is not its job to fix it.

Speaking during testimony before Congress’ Joint Economic Committee on Nov. 13, Jerome Powell noted that currently, U.S. national debt is growing faster than nominal GDP.

Powell: Solving debt spiral “not up to the Fed”

“Ultimately in the long run that’s not a sustainable place to be,” he said. Powell continued:

“How to fix that — it’s easy to say that — how do you do that and when do you do that is an issue that is up to you and not to us.”

As Cointelegraph reported, U.S. debt has now topped $23 trillion — around $70,000 per head of the population, or more than $1 million for each Bitcoin that will ever exist.

On the night of Nov. 14 alone, the Fed distributed funds to banks worth 12.7 million BTC, while its balance sheet is expanding towards $4 trillion.

For Powell, however, resolving the debt crisis simply means…