Federal Reserve buys 108% of US Debt in the month of January
Yes, you read that right.
I read it but you're still wrong.
Think about it, Joshie, how can anyone buy more than 100% of ANYTHING
that is sold? It's mathematically impossible. Even a junior college student in Florida should be able to figure that out.
The Treasury department issued $99 billion in new debt in January. ( LINK
) The Fed's treasury portfolio increased via purchases PLUS
accrued interest minus maturities.
You can't just compare the U.S. debt balance (which includes accrued interest minus tax receipts for the month) with the Fed's balance sheet at the period beginning and period ending dates.
The result was the Fed purchased about 45% of new T-debt issued in January, NOT
over 100%, which is impossible.