It's also worth noting that a year of growth of "just" 27.5% after growing 33% the prior year, the 27.5% represents more growth-in-dollars this year than the 33% did last year.
So it's up .38 trillion from 119 trillion, less than a third of a percent, in dollar terms, in the same interval over which the dollar has shed 4.5% versus the Euro.
Look at figure 8. They don’t have 2023 data but seem to think it started before the recent rate increases. I don’t really see their claimed 2017 change on the graph.
Interestingly, it's about 5% annualized over the last month, 5% versus May 2020, and 5% growth vs May 2019. Not that any of those three numbers means much because pandemic.
It drops to 132% by 31st Dec 2018. Still a quite respectable figure.
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