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

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 May 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.

Dallas Fed Manufacturing Index in the United States increased to -15.30 points in May from -35.80 points in April of 2025. This dataset provides the latest reported value for - United States Dallas Fed Manufacturing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Median (FEDTARMD) from 2025 to 2027 about projection, federal, median, rate, and USA.

FRBOP Forecast: Ann Natural Rate of Unemployment: sa: Mean data was reported at 4.410 % in 2017. This records a decrease from the previous number of 4.841 % for 2016. FRBOP Forecast: Ann Natural Rate of Unemployment: sa: Mean data is updated yearly, averaging 5.013 % from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 5.927 % in 2012 and a record low of 4.410 % in 2017. FRBOP Forecast: Ann Natural Rate of Unemployment: sa: Mean data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.G022: Current Population Survey: Unemployment Rate: Seasonally Adjusted: Forecast: Federal Reserve Bank of Philadelphia.

FRBOP Forecast: Annual Unemp Rate: Mean: sa: Current data was reported at 3.932 % in Jun 2018. This records a decrease from the previous number of 3.944 % for Mar 2018. FRBOP Forecast: Annual Unemp Rate: Mean: sa: Current data is updated quarterly, averaging 5.778 % from Sep 1981 (Median) to Jun 2018, with 148 observations. The data reached an all-time high of 10.281 % in Mar 1983 and a record low of 3.932 % in Jun 2018. FRBOP Forecast: Annual Unemp Rate: Mean: sa: Current data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.G022: Current Population Survey: Unemployment Rate: Seasonally Adjusted: Forecast: Federal Reserve Bank of Philadelphia.

United States - Means of Financing: by Other Means was 70513.59540 Mil. of $ in April of 2025, according to the United States Federal Reserve. Historically, United States - Means of Financing: by Other Means reached a record high of 420704.50038 in June of 2020 and a record low of -377512.23428 in August of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Means of Financing: by Other Means - last updated from the United States Federal Reserve on June of 2025.

United States - Means of Financing: Borrowing from the Public was 2000.17828 Mil. of $ in March of 2025, according to the United States Federal Reserve. Historically, United States - Means of Financing: Borrowing from the Public reached a record high of 1386528.44711 in April of 2020 and a record low of -115417.00000 in April of 2014. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Means of Financing: Borrowing from the Public - last updated from the United States Federal Reserve on May of 2025.

Graph and download economic data for Federal Government Defined Benefit Retirement Funds; Pension Entitlements (Total Liabilities) (BEA), Transactions (BOGZ1FA344190043A) from 1946 to 2024 about retirement, pension, transactions, benefits, liabilities, federal, and USA.

United States Mean Wage Growth: 3-Mo Mov Avg data was reported at 6.600 % in Apr 2025. This records an increase from the previous number of 6.100 % for Mar 2025. United States Mean Wage Growth: 3-Mo Mov Avg data is updated monthly, averaging 5.450 % from Mar 1997 (Median) to Apr 2025, with 338 observations. The data reached an all-time high of 9.000 % in Jun 2022 and a record low of 2.400 % in Feb 2010. United States Mean Wage Growth: 3-Mo Mov Avg data remains active status in CEIC and is reported by Federal Reserve Bank of Atlanta. The data is categorized under Global Database’s United States – Table US.G113: Atlanta Fed Wage Growth Tracker: 3-Month Moving Average.

Philadelphia Fed Manufacturing Index in the United States decreased to 12.50 points in March from 18.10 points in February of 2025. This dataset provides the latest reported value for - United States Philadelphia Fed Manufacturing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Mean Family Income in West Census Region was 144200.00000 Current $ in January of 2023, according to the United States Federal Reserve. Historically, Mean Family Income in West Census Region reached a record high of 144200.00000 in January of 2023 and a record low of 9873.00000 in January of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for Mean Family Income in West Census Region - last updated from the United States Federal Reserve on May of 2025.

Real Mean Family Income in Midwest Census Region was 135400.00000 2015 CPI-U-RS Adjusted $ in January of 2023, according to the United States Federal Reserve. Historically, Real Mean Family Income in Midwest Census Region reached a record high of 135400.00000 in January of 2023 and a record low of 62331.00000 in January of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for Real Mean Family Income in Midwest Census Region - last updated from the United States Federal Reserve on June of 2025.

The Volcker Shock was a period of historically high interest rates precipitated by Federal Reserve Chairperson Paul Volcker's decision to raise the central bank's key interest rate, the Fed funds effective rate, during the first three years of his term. Volcker was appointed chairperson of the Fed in August 1979 by President Jimmy Carter, as replacement for William Miller, who Carter had made his treasury secretary. Volcker was one of the most hawkish (supportive of tighter monetary policy to stem inflation) members of the Federal Reserve's committee, and quickly set about changing the course of monetary policy in the U.S. in order to quell inflation. The Volcker Shock is remembered for bringing an end to over a decade of high inflation in the United States, prompting a deep recession and high unemployment, and for spurring on debt defaults among developing countries in Latin America who had borrowed in U.S. dollars.

Monetary tightening and the recessions of the early '80s

Beginning in October 1979, Volcker's Fed tightened monetary policy by raising interest rates. This decision had the effect of depressing demand and slowing down the U.S. economy, as credit became more expensive for households and businesses. The Fed funds rate, the key overnight rate at which banks lend their excess reserves to each other, rose as high as 17.6 percent in early 1980. The rate was allowed to fall back below 10 percent following this first peak, however, due to worries that inflation was not falling fast enough, a second cycle of monetary tightening was embarked upon starting in August of 1980. The rate would reach its all-time peak in June of 1981, at 19.1 percent. The second recession sparked by these hikes was far deeper than the 1980 recession, with unemployment peaking at 10.8 percent in December 1980, the highest level since The Great Depression. This recession would drive inflation to a low point during Volcker's terms of 2.5 percent in August 1983.

The legacy of the Volcker Shock

By the end of Volcker's terms as Fed Chair, inflation was at a manageable rate of around four percent, while unemployment had fallen under six percent, as the economy grew and business confidence returned. While supporters of Volcker's actions point to these numbers as proof of the efficacy of his actions, critics have claimed that there were less harmful ways that inflation could have been brought under control. The recessions of the early 1980s are cited as accelerating deindustrialization in the U.S., as manufacturing jobs lost in 'rust belt' states such as Michigan, Ohio, and Pennsylvania never returned during the years of recovery. The Volcker Shock was also a driving factor behind the Latin American debt crises of the 1980s, as governments in the region defaulted on debts which they had incurred in U.S. dollars. Debates about the validity of using interest rate hikes to get inflation under control have recently re-emerged due to the inflationary pressures facing the U.S. following the Coronavirus pandemic and the Federal Reserve's subsequent decision to embark on a course of monetary tightening.

FRBOP Forecast: Unemployment Rate: Mean: sa: Plus 1 Qtr data was reported at 3.743 % in Mar 2019. This records an increase from the previous number of 3.670 % for Dec 2018. FRBOP Forecast: Unemployment Rate: Mean: sa: Plus 1 Qtr data is updated quarterly, averaging 5.892 % from Dec 1968 (Median) to Mar 2019, with 202 observations. The data reached an all-time high of 10.411 % in Mar 1983 and a record low of 3.645 % in Jun 1969. FRBOP Forecast: Unemployment Rate: Mean: sa: Plus 1 Qtr data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s United States – Table US.G025: Current Population Survey: Unemployment Rate: Seasonally Adjusted: Forecast: Federal Reserve Bank of Philadelphia.

Mean Family Income in Midwest Census Region was 116179.00000 Current $ in January of 2020, according to the United States Federal Reserve. Historically, Mean Family Income in Midwest Census Region reached a record high of 116179.00000 in January of 2020 and a record low of 9173.00000 in January of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for Mean Family Income in Midwest Census Region - last updated from the United States Federal Reserve on April of 2025.

Mean Commuting Time for Workers (5-year estimate) in Dakota County, NE was 14.11079 Minutes in January of 2023, according to the United States Federal Reserve. Historically, Mean Commuting Time for Workers (5-year estimate) in Dakota County, NE reached a record high of 16.57561 in January of 2011 and a record low of 14.11079 in January of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for Mean Commuting Time for Workers (5-year estimate) in Dakota County, NE - last updated from the United States Federal Reserve on June of 2025.

FRBOP Forecast: Real GDP: saar: Mean: GCI: Federal: Plus 4 Qtrs data was reported at 1,279.646 USD bn in Mar 2019. This records a decrease from the previous number of 1,281.359 USD bn for Dec 2018. FRBOP Forecast: Real GDP: saar: Mean: GCI: Federal: Plus 4 Qtrs data is updated quarterly, averaging 559.525 USD bn from Sep 1981 (Median) to Mar 2019, with 151 observations. The data reached an all-time high of 1,281.359 USD bn in Dec 2018 and a record low of 112.829 USD bn in Sep 1981. FRBOP Forecast: Real GDP: saar: Mean: GCI: Federal: Plus 4 Qtrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s United States – Table US.A009: NIPA 2018: GDP by Expenditure: Constant Price: saar: Forecast: Federal Reserve Bank of Philadelphia.

FRBOP Forecast: YS: Moody's: Baa over Aaa: Mean: Plus 4 Qtrs data was reported at 0.773 % in Jun 2018. This records an increase from the previous number of 0.734 % for Mar 2018. FRBOP Forecast: YS: Moody's: Baa over Aaa: Mean: Plus 4 Qtrs data is updated quarterly, averaging 1.009 % from Mar 2010 (Median) to Jun 2018, with 34 observations. The data reached an all-time high of 1.295 % in Sep 2012 and a record low of 0.734 % in Mar 2018. FRBOP Forecast: YS: Moody's: Baa over Aaa: Mean: Plus 4 Qtrs data remains active status in CEIC and is reported by Federal Reserve Bank of Philadelphia. The data is categorized under Global Database’s USA – Table US.M006: Treasury Bills Rates: Forecast: Federal Reserve Bank of Philadelphia.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2023 about consumer, CPI, inflation, price index, indexes, price, and USA.