The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by April 12, 2022. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic – both of which resulted in negative annual GDP growth in the U.S. – showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached ***** percent in 2022, the highest since 1991. However, by March 2026, inflation had declined to **** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2024, the Fed reported a negative net income of ***** billion U.S. dollars, a stark contrast to the ***** billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over *** billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of ****** billion U.S. dollars in the same year.

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

Central Bank Balance Sheet in the United States increased to 6646344 USD Million in March 11 from 6628894 USD Million in the previous week. This dataset provides - United States Central Bank Balance Sheet - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Federal Reserve's balance sheet ballooned following its announcement to carry out quantitative easing to increase the liquidity of U.S. banks in early 2020. The balance sheet continued to grow in the following period as well, with a downward trend in 2023. As of February 29, 2024, the Fed's balance sheet amounted to roughly 7.6 trillion U.S. dollars. The most drastic increase in the observed period took place in the first half of 2020. This measure was taken to increase the money supply and stimulate economic growth in the wake of the damage caused by the COVID-19 pandemic. The Federal Reserve was not the only institution that implemented an expansionary monetary policy in response to the pandemic. For instance, the European Central Bank expanded its money supply in March 2020 and kept doing so over the following months. How do central banks increase the amount of money in circulation? Central banks can increase the money circulating in the economy in many ways. For instance, they can decrease banks’ reserve requirements to stimulate lending or decrease the interest rates to reduce the cost of borrowing for commercial banks. Alternatively, central banks can engage in open market operations (OMO) and buy securities such as government bonds from commercial banks or institutions. By conducting open market operations, the Federal Reserve expanded its balance sheet by seven trillion U.S. dollars between 2007 and 2023. All these measures aim to increase bank loans to entrepreneurs and consumers in order to stimulate employment and economic growth. Impact of COVID-19 on the U.S. economy The COVID-19 pandemic had a tremendous impact on national economies worldwide, and the United States was no exception. During the early months of the crisis, many lost their jobs, mostly those in lower-income categories. As a consequence, many Americans found it difficult to pay their rent and cover basic household expenses. Furthermore, in April 2022, most small business owners claimed that the pandemic had a large or moderate negative effect on their businesses. Overall, the gross domestic product (GDP) of the United States decreased by roughly 2.2 percent in 2020. In the following years, however, it increased notably, surpassing 25 trillion U.S. dollars in 2022.

The Federal Reserve’s balance sheet holdings can affect broad financial conditions, including interest rates. In this way, monetary policy accommodation provided through the balance sheet may, to a modest extent, substitute for changes in the target federal funds rate. Specifically, we find a $675 billion reduction in the Fed’s balance sheet over a two-year horizon is about equivalent to a 25 basis point hike in the funds rate.

Graph and download economic data for Assets: Total Assets: Total Assets: Wednesday Level (RESPPANWW) from 2002-12-18 to 2026-03-11 about assets and USA.

Graph and download economic data for Assets: Securities Held Outright: U.S. Treasury Securities: All: Wednesday Level (TREAST) from 2002-12-18 to 2026-03-25 about maturity, Treasury, securities, and USA.

Quantitative tightening (QT)—the reduction in the Federal Reserve’s balance sheet—will transfer a significant amount of Treasury and agency mortgage-backed securities to investors. This transfer will be larger than the first endeavor with QT in 2017 and will occur at a time when financial markets are strained, suggesting this round of QT has the potential to be more disruptive compared with the benign start to the 2017 runoff.

Graph and download economic data for Liabilities and Capital: Liabilities: Total Liabilities (Less Eliminations from Consolidation): Wednesday Level (WLTLECL) from 2002-12-18 to 2026-03-25 about liabilities and USA.

FG: Balance Sheet: Liabilities: ITR: Retiree Health Care Funds data was reported at 286.786 USD bn in Mar 2018. This records a decrease from the previous number of 287.115 USD bn for Dec 2017. FG: Balance Sheet: Liabilities: ITR: Retiree Health Care Funds data is updated quarterly, averaging 0.000 USD bn from Dec 1951 (Median) to Mar 2018, with 266 observations. The data reached an all-time high of 287.115 USD bn in Dec 2017 and a record low of 0.000 USD bn in Sep 2002. FG: Balance Sheet: Liabilities: ITR: Retiree Health Care Funds data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.AB079: Integrated Macroeconomic Accounts: Federal Government.

United States FRB: Liabilities: Repurchase Agreements-triparty data was reported at 250.340 USD bn in 25 Jul 2018. This records a decrease from the previous number of 264.459 USD bn for 18 Jul 2018. United States FRB: Liabilities: Repurchase Agreements-triparty data is updated weekly, averaging 55.215 USD bn from Oct 1999 (Median) to 25 Jul 2018, with 982 observations. The data reached an all-time high of 641.081 USD bn in 30 Sep 2015 and a record low of 0.000 USD mn in 11 Dec 2002. United States FRB: Liabilities: Repurchase Agreements-triparty data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.KB001: Balance Sheet: Federal Reserve Banks.

United States FRB: Assets: Govt Securities Held Outright (GS) data was reported at 4,071.830 USD bn in 25 Jul 2018. This records a decrease from the previous number of 4,084.466 USD bn for 18 Jul 2018. United States FRB: Assets: Govt Securities Held Outright (GS) data is updated weekly, averaging 758.575 USD bn from Jun 1996 (Median) to 25 Jul 2018, with 1153 observations. The data reached an all-time high of 4,258.966 USD bn in 12 Apr 2017 and a record low of 382.378 USD bn in 31 Jul 1996. United States FRB: Assets: Govt Securities Held Outright (GS) data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.KB001: Balance Sheet: Federal Reserve Banks.

Central Bank Balance Sheet In the Euro Area decreased to 6155306 EUR Million in March 20 from 6168261 EUR Million in the previous week. This dataset provides - Euro Area Central Bank Balance Sheet - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Overnight Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations (RRPONTSYD) from 2003-02-07 to 2026-03-19 about reverse repos, overnight, trade, Treasury, securities, sales, and USA.

This table represents deposits and withdrawals from the Treasury General Account. A summary of changes to the Treasury General Account can be found in the Operating Cash Balance table. All figures are rounded to the nearest million.

FG: Balance Sheet: Assets: FA: Loan: Long Term data was reported at 119.839 USD bn in Mar 2018. This records a decrease from the previous number of 121.218 USD bn for Dec 2017. FG: Balance Sheet: Assets: FA: Loan: Long Term data is updated quarterly, averaging 47.495 USD bn from Dec 1951 (Median) to Mar 2018, with 266 observations. The data reached an all-time high of 121.218 USD bn in Dec 2017 and a record low of 2.303 USD bn in Dec 1951. FG: Balance Sheet: Assets: FA: Loan: Long Term data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.AB079: Integrated Macroeconomic Accounts: Federal Government.

FB: AS: IBF Only: FR: FED Funds Purchased (FP) data was reported at 2.022 USD bn in Dec 2019. This records a decrease from the previous number of 2.678 USD bn for Sep 2019. FB: AS: IBF Only: FR: FED Funds Purchased (FP) data is updated quarterly, averaging 3.527 USD bn from Mar 2013 (Median) to Dec 2019, with 28 observations. The data reached an all-time high of 8.085 USD bn in Mar 2014 and a record low of 2.022 USD bn in Dec 2019. FB: AS: IBF Only: FR: FED Funds Purchased (FP) data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.KB043: Balance Sheet: Foreign Banks: All States.

United States Federal Reserve Banks (FRB): Total Assets data was reported at 4,139.731 USD bn in 31 Oct 2018. This records a decrease from the previous number of 4,173.070 USD bn for 24 Oct 2018. United States Federal Reserve Banks (FRB): Total Assets data is updated weekly, averaging 876.108 USD bn from Jun 1996 (Median) to 31 Oct 2018, with 1167 observations. The data reached an all-time high of 4,516.077 USD bn in 14 Jan 2015 and a record low of 447.351 USD bn in 24 Jul 1996. United States Federal Reserve Banks (FRB): Total Assets data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.KB028: Balance Sheet: Federal Reserve Banks.

FG: Balance Sheet: Assets: FA: OAR: Taxes Receivable data was reported at 428.391 USD bn in Mar 2018. This records a decrease from the previous number of 458.588 USD bn for Dec 2017. FG: Balance Sheet: Assets: FA: OAR: Taxes Receivable data is updated quarterly, averaging 14.944 USD bn from Dec 1951 (Median) to Mar 2018, with 266 observations. The data reached an all-time high of 458.588 USD bn in Dec 2017 and a record low of 0.000 USD bn in Dec 1982. FG: Balance Sheet: Assets: FA: OAR: Taxes Receivable data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.AB079: Integrated Macroeconomic Accounts: Federal Government.

United States FRB: Assets: Items in Process of Collection data was reported at 202.000 USD mn in 25 Jul 2018. This records a decrease from the previous number of 207.000 USD mn for 18 Jul 2018. United States FRB: Assets: Items in Process of Collection data is updated weekly, averaging 3.135 USD bn from Jun 1996 (Median) to 25 Jul 2018, with 1153 observations. The data reached an all-time high of 30.928 USD bn in 12 Sep 2001 and a record low of -587.000 USD mn in 04 Apr 2012. United States FRB: Assets: Items in Process of Collection data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.KB001: Balance Sheet: Federal Reserve Banks.