The Forgotten Man II: Federal Reserve Holds 48.3% Of Treasury Debt Outstanding As Q2 GDP Plunges To -46.6%

It is stunning that The Federal Reserve now holds almost 50% of the US Treasury debt outstanding. At the same time, Japan and China are reducing their holdings.

Meanwhile, the government-shutdown of the economy has caused a recession. The Atlanta Fed GDPNow forecast of Q2 GDP is a whopping -46.631%.

Yes, “the shutdown governors” of NY (Cuomo), NJ (Murphy) and VA (Northam) have forgotten about the middle class as FDR forgot about them in the Great Depression.