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 June 2025. 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 *************, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in ***********, before the first rate cut since ************** occurred in **************. 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 2023, 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.

Graph and download economic data for Federal government current tax receipts: Taxes on production and imports: Customs duties (B235RC1Q027SBEA) from Q1 1959 to Q1 2025 about receipts, imports, tax, federal, production, government, GDP, and USA.

abstract The Covid-19 crisis reinforced and consolidated a template for global monetary cooperation, aiming to keep the international financial markets functioning. At the core of the monetary system, the legal design for cooperation has changed substantially: from the central role of multilateral organizations responsible for organizing collective actions (such as the International Monetary Fund - IMF), to more flexible contractual arrangements, formalized by a network of Central Bank swaps. The management of the Covid-19 monetary impacts reveals a new Bretton Woods moment, organized in novel political and legal terms. This article argues that Law has an explanatory and constitutive role in this substantial development. The US dollar, as a global currency, is structured by a specific type of contract, the eurodollar. In times of crisis, this contract requires an international lender of last resort that provides unlimited financial support to the currency’s global uses. Only a financial institution organized as a central bank has the legal and economic capacity to perform this role - not a multilateral fund. The hierarchical network of Central Bank swaps, with the American Central Bank (the Federal Reserve - Fed) at the top, was the legal arrangement structured to support the functioning of the global financial market and its currency par excellence, the eurodollar.

The Federal Reserve Act of 1913 created the Reserve Bank Organizing Committee which divided the counties of the United States into twelve Federal Reserve Districts each with its own Federal Reserve Bank. The size and vitality of these districts varied. Some were densely populated with substantial urban areas and large industries. Others were sparsely populated and largely rural with the preponderance of the population working in agriculture. Some grew rapidly. Others grew slowly. To help understand the Fed’s role in the evolution of the U.S. economy, we construct a dataset with estimated annual population in each Fed district from 1890 to 1950.

Graph and download economic data for Federal government current tax receipts: Taxes on production and imports: Customs duties (B235RC1A027NBEA) from 1929 to 2024 about receipts, imports, tax, federal, production, government, GDP, and USA.

A primary purpose of the Federal Reserve Act of 1913 was to prevent banking panics by establishing the Federal Reserve System to function as a lender of last resort. Other types of financial crisis require a similar response, however, and the Federal Reserve has repeatedly used its capacity to generate liquidity to insulate the economy from crises in financial markets. The Fed's response to the terrorist attacks of September 11, 2001, is the most recent example of this. This paper reviews the Fed's responses to crises and potential crises in financial markets: the stock market crash of 1987, the Russian default, and the September 11th attacks.

United States - Import Price Index (Harmonized System): Machines and Mechanical Appliances Having Individual Functions, Not Specified or Included Elsewhere in This Chapter; Parts Thereof; Parts Thereof was 103.00000 Index Dec 2016=100 in April of 2025, according to the United States Federal Reserve. Historically, United States - Import Price Index (Harmonized System): Machines and Mechanical Appliances Having Individual Functions, Not Specified or Included Elsewhere in This Chapter; Parts Thereof; Parts Thereof reached a record high of 106.70000 in January of 2021 and a record low of 98.80000 in May of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Import Price Index (Harmonized System): Machines and Mechanical Appliances Having Individual Functions, Not Specified or Included Elsewhere in This Chapter; Parts Thereof; Parts Thereof - last updated from the United States Federal Reserve on June of 2025.

United States - Export Price Index (Harmonized System): Machines and appliances having individual functions, not elsewhere specified or included; parts thereof was 101.80000 Index 2000=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Export Price Index (Harmonized System): Machines and appliances having individual functions, not elsewhere specified or included; parts thereof reached a record high of 136.60000 in June of 2019 and a record low of 89.90000 in August of 1994. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Export Price Index (Harmonized System): Machines and appliances having individual functions, not elsewhere specified or included; parts thereof - last updated from the United States Federal Reserve on June of 2025.

Graph and download economic data for Import Price Index (Harmonized System): Machines and Mechanical Appliances Having Individual Functions, Not Specified or Included Elsewhere in This Chapter; Parts Thereof; Parts Thereof (IP8479) from Dec 2016 to May 2025 about machines, appliances, parts, harmonized, imports, price index, indexes, price, and USA.

Graph and download economic data for Employment Level - Part-Time for Economic Reasons, All Industries (LNS12032194) from May 1955 to May 2025 about part-time, 16 years +, household survey, employment, industry, and USA.

Graph and download economic data for Export Price Index (Harmonized System): Machines and Mechanical Appliances Having Individual Functions, Not Specified or Included Elsewhere in This Chapter; Parts Thereof; Parts Thereof (ID8479) from Dec 2024 to May 2025 about machines, individual, appliances, parts, harmonized, exports, price index, indexes, price, and USA.

The U.S. GLOBEC Georges Bank Program is a large multi-disciplinary multi-year oceanographic effort. The proximate goal is to understand the population dynamics of key species on the Bank: cod, haddock, and two species of zooplankton - in terms of their coupling to the physical environment and in terms of their predators and prey. The ultimate goal is to be able to predict changes in the distribution and abundance of these species as a result of changes in their physical and biotic environment as well as to anticipate how their populations might respond to climate change.

The effort is substantial, requiring broad-scale surveys of the entire Bank. In addition, process studies focus both on the links between the target species and their physical environment and on the determination of fundamental aspects of these species' life history (birth rates, growth rates, death rates, etc.). Equally important are the modeling efforts that are ongoing which seek to provide realistic predictions of the flow field and which utilize the life history information to produce an integrated view of the dynamics of the populations.

Broad-scale surveys include CTD casts, zooplankton and larval fish surveys, and acoustic (volume back-scattering) surveys.

Process cruises investigate copepod fecundity, copepod feeding rate, copepod growth rate, larval fish feeding rate, zooplankton abundance, vertical zooplankton distribution, horizontal zooplankton distribution, stage frequency distribution, and zooplankton behavior.

Mooring cruises measure current velocity, temperature, salinity, and depth.

Modeling exercises investigate Gulf Stream meanders, and patch formation in turbulent flows.

In addition, the data collected at sea are analyzed along with satellite images such as AVHRR sea surface temperatures and Coastal Zone Color Scanner data.

[This information was condensed from the U.S. GLOBEC Georges Bank Program World Wide Web pages http://globec.whoi.edu/ ]

Graph and download economic data for 28) How Has the Provision of Differential Terms by Your Institution to Most-Favored (as a Function of Breadth, Duration, and Extent of Relationship) Insurance Companies Changed Over the Past Three Months?| Answer Type: Remained Basically Unchanged (CTQ28RBUNR) from Q4 2011 to Q2 2025 about duration, change, companies, insurance, 3-month, and USA.

Graph and download economic data for 28) How Has the Provision of Differential Terms by Your Institution to Most Favored (as a Function of Breadth, Duration, and Extent of Relationship) Insurance Companies Changed over the Past Three Months?| Answer Type: Increased Somewhat (ALLQ28ISNR) from Q4 2011 to Q1 2025 about duration, change, companies, insurance, 3-month, and USA.

Graph and download economic data for 16) How Has the Provision of Differential Terms by Your Institution to Most-Favored (as a Function of Breadth, Duration, and Extent of Relationship) Trading Reits Changed over the Past Three Months?| Answer Type: Decreased Somewhat (CTQ16DSNR) from Q4 2011 to Q1 2025 about duration, REIT, change, 3-month, trade, and USA.

Graph and download economic data for 16) How Has the Provision of Differential Terms by Your Institution to Most-Favored (as a Function of Breadth, Duration, and Extent of Relationship) Trading REITs Changed Over the Past Three Months?| Answer Type: Increased Somewhat (CTQ16ISNR) from Q4 2011 to Q2 2025 about duration, REIT, change, 3-month, trade, and USA.

Graph and download economic data for 22) How Has the Provision of Differential Terms by Your Institution to Most-Favored (as a Function of Breadth, Duration, and Extent of Relationship) Mutual Funds, ETFs, Pension Plans, and Endowments Changed Over the Past Three Months?| Answer Type: Decreased Considerably (CTQ22DCNR) from Q4 2011 to Q2 2025 about pension plans, duration, change, ETF, mutual funds, 3-month, and USA.

Graph and download economic data for 34) How Has the Provision of Differential Terms by Your Institution to Separately Managed Accounts Established with Most-Favored (as a Function of Breadth, Duration, and Extent of Relationship) Investment Advisers Changed Over the Past Three Months?| Answer Type: Increased Considerably (CTQ34ICNR) from Q4 2011 to Q2 2025 about duration, separations, accounts, management, 3-month, investment, and USA.

Graph and download economic data for 10) How Has the Provision of Differential Terms by Your Institution to Most-Favored (as a Function of Breadth, Duration, and Extent of Relationship) Hedge Funds Changed over the Past Three Months?| Answer Type: Increased Considerably (ALLQ10ICNR) from Q3 2011 to Q1 2025 about duration, Hedge Fund, change, 3-month, and USA.

Graph and download economic data for Import Price Index (SITC): Nitrogen-function compounds (DISCONTINUED) (IM514) from Dec 2001 to Dec 2005 about imports, price index, indexes, price, and USA.