Debt Policy in Modern Conditions of the World Economy Development

Abstract

The purpose of this article is to identify the main subjects of the debt economy of Russia and the USA. The scientific novelty of this study lies in the disclosure of the mechanism of activity of the US Federal Reserve System (FRS) as a subject of the debt economy, the main holder of public debt and the guarantor of dollar fnancing. The article considers measures of federal budget support, defnes the conditions of growth of federal debt of the United States, the influence of the fnancial policy of the FRS on the state of public debt. The author’s position on strengthening the role of the FRS in management of economic processes is substantiated.

Keywords

• debt policy
• federal reserve
• federal budget defcit
• treasury bonds
• corporate debt