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 July 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.

Key information about Poland Short Term Interest Rate

• Poland Short Term Interest Rate: Month End: ACI Polska: WIBOR: 3 Months was reported at 5.86 % pa in Feb 2025, compared with 5.86 % pa in the previous month.
• Poland Short Term Interest Rate data is updated monthly, available from Jan 1999 to Feb 2025.
• The data reached an all-time high of 19.82 % pa in Oct 2000 and a record low of 0.21 % pa in Jul 2021.
• Short Term Interest Rate is reported by reported by ACI Polska - the Polish Financial Markets Association.

• In the latest reports, Poland Long Term Interest Rate: Month Avg: Poland: ECB Harmonised was reported at 5.94 % pa in Jan 2025.
• The cash rate (Policy Rate: Month End: Reference Rate: Open Market Operations: 7 Days) was set at 5.75 % pa in Feb 2025.
• Poland Exchange Rate against USD averaged 4.12 (USD/PLN) in Jun 2023.