Who are the holders of US debt? It is interesting to look at the current US debt-holders, because only as long as there are investors willing to purchase US debt, is the US government able to finance its current account deficit. Nevertheless, the US Federal Reserve, via its quantitative easing programme, has become a major buyer of US debt. However, on 14 June 2017, the Federal Reserve announced the beginning of a gradual reduction of its balance sheet – US$10 billion monthly – and after one year, US$50 billion monthly. This means, however, that other investors need to be willing to buy more US debt as long the USA runs a deficit.