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.

Money Supply M2 in the United States increased to 21942 USD Billion in May from 21862.40 USD Billion in April of 2025. This dataset provides - United States Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Monetary Base: Total (BOGMBASE) from Jan 1959 to May 2025 about monetary base and USA.

The U.S. M1 money supply reached ***** trillion dollars in 2024, showing a modest increase from the previous year. While M1 grew gradually between 2000 and 2019, it experienced an unprecedented surge in 2020 due to the Federal Reserve's quantitative easing response to the COVID-19 pandemic. The most dramatic spike occurred in May 2020, when M1 jumped from *** to **** trillion dollars - more than tripling in a single month.

Graph and download economic data for Monetary Aggregates and Their Components: Broad Money and Components: M3 for United States (MABMM301USA657S) from 1960 to 2024 about M3, broad, monetary aggregates, and USA.

Money Supply M0 in the United States decreased to 5648600 USD Million in May from 5732900 USD Million in April of 2025. This dataset provides - United States Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United States M2 money supply reached approximately ***** trillion U.S. dollars by May 2025, marking a gradual upward trend after a period of decline. This followed an extraordinary surge in 2020 and 2021, primarily driven by the Federal Reserve's aggressive quantitative easing measures in response to the COVID-19 pandemic.

Key information about Mexico Money Supply M2

• Mexico Money Supply M2 was reported at 707.141 USD bn in May 2023
• This records an increase from the previous number of 694.119 USD bn for Apr 2023
• Mexico Money Supply M2 data is updated monthly, averaging 226.139 USD bn from Dec 1985 to May 2023, with 450 observations
• The data reached an all-time high of 707.141 USD bn in May 2023 and a record low of 32.198 USD bn in Sep 1986
• Mexico Money Supply M2 data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Money Supply M2: USD: Monthly

CEIC converts monthly Money Supply M2 into USD. The Bank of Mexico provides Money Supply M2 in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Money Supply M2 prior to December 2000 is based on 1999 Methodology.

Graph and download economic data for Total Money Supply for United States (M1490AUSM157SNBR) from Jul 1914 to Dec 1946 about monetary aggregates, rate, and USA.

Graph and download economic data for Currency in Circulation (CURRCIR) from Aug 1917 to Jun 2025 about currency and USA.

Key information about United States M2 Growth

• United States Money Supply M2 increased 3.9 % YoY in Jan 2025, compared with a growth of 3.8 % in the previous month
• US Money Supply M2 growth data is updated monthly, available from Jan 1960 to Jan 2025
• The data reached an all-time high of 26.6 % in Feb 2021 and a record low of -4.6 % in Apr 2023

CEIC calculates M2 Growth Rate from monthly M2. Federal Reserve Board provides M2 in USD.


Further information about United States M2 Growth

• In the latest reports, US Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• US Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY
• The country's Non Performing Loans Ratio stood at 1.7 % in Dec 2024, compared with the ratio of 1.5 % in the previous quarter
• Household Debt of US reached 18,036.0 USD bn in Dec 2024, accounting for 61.7 % of the country's Nominal GDP

Graph and download economic data for Real M2 Money Stock (M2REAL) from Jan 1959 to May 2025 about M2, monetary aggregates, real, and USA.

Money Supply M1 in the United States increased to 18712.60 USD Billion in May from 18667.60 USD Billion in April of 2025. This dataset provides - United States Money Supply M1 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The U.S. federal funds rate peaked in 2023 at its highest level since the 2007-08 financial crisis, reaching 5.33 percent by December 2023. A significant shift in monetary policy occurred in the second half of 2024, with the Federal Reserve implementing regular rate cuts. By December 2024, the rate had declined to 4.48 percent. What is a central bank rate? The federal funds rate determines the cost of overnight borrowing between banks, allowing them to maintain necessary cash reserves and ensure financial system liquidity. When this rate rises, banks become more inclined to hold rather than lend money, reducing the money supply. While this decreased lending slows economic activity, it helps control inflation by limiting the circulation of money in the economy. Historic perspective The federal funds rate historically follows cyclical patterns, falling during recessions and gradually rising during economic recoveries. Some central banks, notably the European Central Bank, went beyond traditional monetary policy by implementing both aggressive asset purchases and negative interest rates.

View data of the frequency at which one unit of currency purchases domestically produced goods and services within a given time period.

United States Money Supply: MZM data was reported at 15,643.800 USD bn in Nov 2018. This records an increase from the previous number of 15,565.400 USD bn for Oct 2018. United States Money Supply: MZM data is updated monthly, averaging 2,041.500 USD bn from Jan 1959 (Median) to Nov 2018, with 719 observations. The data reached an all-time high of 15,643.800 USD bn in Nov 2018 and a record low of 276.000 USD bn in Feb 1959. United States Money Supply: MZM data remains active status in CEIC and is reported by Federal Reserve Bank of St. Louis. The data is categorized under Global Database’s United States – Table US.KA006: Money, Zero Maturity.

Graph and download economic data for Real M1 Money Stock (M1REAL) from Jan 1959 to May 2025 about M1, monetary aggregates, real, and USA.

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.

United States Money Supply: MZM: Own Rate data was reported at 0.616 % in Oct 2018. This records an increase from the previous number of 0.561 % for Sep 2018. United States Money Supply: MZM: Own Rate data is updated monthly, averaging 2.712 % from Jan 1974 (Median) to Oct 2018, with 538 observations. The data reached an all-time high of 5.969 % in Sep 1984 and a record low of 0.085 % in Nov 2015. United States Money Supply: MZM: Own Rate data remains active status in CEIC and is reported by Federal Reserve Bank of St. Louis. The data is categorized under Global Database’s United States – Table US.KA006: Money, Zero Maturity.

United States Money Supply M1: sa: Currency in Circulation data was reported at 1,617.200 USD bn in Oct 2018. This records an increase from the previous number of 1,610.700 USD bn for Sep 2018. United States Money Supply M1: sa: Currency in Circulation data is updated monthly, averaging 211.350 USD bn from Jan 1959 (Median) to Oct 2018, with 718 observations. The data reached an all-time high of 1,617.200 USD bn in Oct 2018 and a record low of 28.500 USD bn in Jan 1959. United States Money Supply M1: sa: Currency in Circulation 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.KA005: Money Stock, Liquid Assets and Debt Measures: Monthly.