A congressman claims that the Fed's monetary policy is similar to Bitcoin's tokenomics. "The Fed is basically Dogecoining the US dollar," says Rep. Warren Davidson. The balance sheet of the Federal Reserve increased from $4.2 trillion at the start of March 2020 to over $7 trillion in May 2020. The US national debt presently stands at $28.3 trillion, implying that the US has had to borrow money in order to pay it off.