The annual value of new banknotes printed in the United States varied significantly between 2002 and 2023, showing a clear downward trend in recent years. The peak was in 2012, when the Bureau of Engraving and Printing produced banknotes valued at ***** billion U.S. dollars. During the quantitative easing of 2021, ***** billion U.S. dollars worth of banknotes were printed, marking the third-highest figure within the period. By 2023, the value of new banknotes printed had dropped by half, reaching ***** billion U.S. dollars. At the same time, the value of currency in circulation reached **** trillion U.S. dollars in 2023.

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

Money Supply M0 in the United States increased to 5748600 USD Million in June from 5648700 USD Million in May of 2025. This dataset provides - United States Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Monetary Base: Currency in Circulation (MBCURRCIR) from Jan 1959 to Jun 2025 about monetary base, currency, and USA.

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.

The number of notes printed in a Fiscal Year by denomination

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

This project analyzes monetary policy in Italy between 1894 and WWI by focusing on the main Bank of issue at the time (the Banca d'Italia, BdI) and the Treasury. We show that the Treasury set the official rates, and the BdI determined an "effective" rate transmitted to the market by applying different quantities of bills to various rates between the bounds set by the Treasury. We provide an original measure of the BdI's rate based on primary sources. The BdI changed its rate in response to the domestic market rate (although with a milder reaction than the Treasury), the stock of money it printed, and its reserve coverage ratio. Changes in the official discount rates in France and Germany also triggered relatively modest reactions. Neither the exchange rate nor the state of the domestic economy affected the setting of the rate. Until the turn of the century, the Banca d'Italia only targeted corporate goals of profitability and financial soundness, while it also pursued policy aims afterward. In this context, however, the Bank did not maneuver the discount rate directly but somewhat indirectly to accumulate reserves for market interventions.