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Federal Reserve Chairman Jerome Powell is downplaying record debt levels. These are the 15 countries that hold the most US debt.

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Fed Chair Jerome Powell said this week that while US government borrowing at current levels is “unsustainable,” the current debt level is “very sustainable” and won’t be a concern in the near-term.

“The US federal budget is on an unsustainable path, meaning simply that the debt is growing meaningfully faster than the economy,” he said at a virtual event hosted by the Economic Club of Washington, DC. “The current level of debt is very sustainable. And there’s no question of our ability to service and issue that debt for the foreseeable future.”

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