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 October 29, 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 August 2025, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. 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 2024, 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.

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

Graph and download economic data for Assets: Securities Held Outright: U.S. Treasury Securities: All: Wednesday Level (TREAST) from 2002-12-18 to 2025-11-26 about maturity, Treasury, securities, and USA.

Central Bank Balance Sheet in the United States decreased to 6587034 USD Million in October 29 from 6589533 USD Million in the previous week. This dataset provides - United States Central Bank Balance Sheet - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United States M2 money supply reached approximately **** trillion U.S. dollars by September 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.

The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged until September 2025, when another cut set the rate at 4.22 percent. In October 2025, the rate was further reduced to 4.09 percent. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate—from 1.58 percent in February 2020 to 0.05 percent by April—mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

Abstract The paper aims to analyze the wide range of unconventional monetary policies adopted in the U.S. since the 2007-2008 financial crises, focusing on conceptual aspects, the implementation of different programs and measures adopted by FED, and their effectiveness. It is argued that the use of credit and quasi-debt policies had significant effects on the financial conditions and on a set of macroeconomic variables in the US, such as output and employment. This result raises questions about the effectiveness of conventional monetary policy and the forward guidance, both of which were key elements in the New Macroeconomics Consensus view that preceded the 2007-2008 financial crisis.

As of July 22, 2025, the yield for a ten-year U.S. government bond was 4.38 percent, while the yield for a two-year bond was 3.88 percent. This represents an inverted yield curve, whereby bonds of longer maturities provide a lower yield, reflecting investors' expectations for a decline in long-term interest rates. Hence, making long-term debt holders open to more risk under the uncertainty around the condition of financial markets in the future. That markets are uncertain can be seen by considering both the short-term fluctuations, and the long-term downward trend, of the yields of U.S. government bonds from 2006 to 2021, before the treasury yield curve increased again significantly in the following years. What are government bonds? Government bonds, otherwise called ‘sovereign’ or ‘treasury’ bonds, are financial instruments used by governments to raise money for government spending. Investors give the government a certain amount of money (the ‘face value’), to be repaid at a specified time in the future (the ‘maturity date’). In addition, the government makes regular periodic interest payments (called ‘coupon payments’). Once initially issued, government bonds are tradable on financial markets, meaning their value can fluctuate over time (even though the underlying face value and coupon payments remain the same). Investors are attracted to government bonds as, provided the country in question has a stable economy and political system, they are a very safe investment. Accordingly, in periods of economic turmoil, investors may be willing to accept a negative overall return in order to have a safe haven for their money. For example, once the market value is compared to the total received from remaining interest payments and the face value, investors have been willing to accept a negative return on two-year German government bonds between 2014 and 2021. Conversely, if the underlying economy and political structures are weak, investors demand a higher return to compensate for the higher risk they take on. Consequently, the return on bonds in emerging markets like Brazil are consistently higher than that of the United States (and other developed economies). Inverted yield curves When investors are worried about the financial future, it can lead to what is called an ‘inverted yield curve’. An inverted yield curve is where investors pay more for short term bonds than long term, indicating they do not have confidence in long-term financial conditions. Historically, the yield curve has historically inverted before each of the last five U.S. recessions. The last U.S. yield curve inversion occurred at several brief points in 2019 – a trend which continued until the Federal Reserve cut interest rates several times over that year. However, the ultimate trigger for the next recession was the unpredicted, exogenous shock of the global coronavirus (COVID-19) pandemic, showing how such informal indicators may be grounded just as much in coincidence as causation.

Over the last two observations, the revenue is forecast to significantly increase in all regions. From the selected regions, the ranking by revenue in the travel and tourism market is forecast to be led by the United States with 265.5 billion U.S. dollars. In contrast, the ranking is trailed by Italy with 27.2 billion U.S. dollars, recording a difference of 238.3 billion U.S. dollars to the United States. Find other insights concerning similar markets and segments, such as a comparison of revenue in Asia and a comparison of revenue in Germany.The Statista Market Insights cover a broad range of additional markets.

Daily net purchase data for domestic institutional investors (DII’s) and foreign institutional investors (FII’s) collated and released by NSE. Also has daily index returns for NSE (S&P CNX Nifty50) and BSE (Sensex) separately as proxies for market returns.

Agency MBS Market Outlook

According to our latest research, the global Agency MBS market size reached USD 9.8 trillion in 2024, with a robust compound annual growth rate (CAGR) of 5.1% observed over the past year. The market is expected to grow steadily, reaching an estimated USD 15.7 trillion by 2033, driven by factors such as heightened investor demand for stable fixed-income instruments, evolving regulatory frameworks, and ongoing innovation in mortgage-backed securities structuring. As per our latest research, the Agency MBS market is witnessing significant momentum due to its perceived safety, liquidity, and the continued support from government-sponsored enterprises (GSEs).

One of the primary growth factors for the Agency MBS market is the persistent demand for yield in a low-interest-rate environment. Institutional investors, including pension funds, insurance companies, and asset managers, are increasingly allocating capital to Agency MBS due to their attractive risk-adjusted returns and implicit government backing. The market’s resilience during periods of economic uncertainty further enhances its appeal, with investors seeking the safety net provided by Ginnie Mae, Fannie Mae, and Freddie Mac. Additionally, the ongoing expansion of the global middle class and rising homeownership rates, particularly in North America and Asia Pacific, are fueling the origination of underlying mortgages, thereby expanding the pool of eligible assets for securitization.

Technological advancements and digitalization are also playing a pivotal role in the Agency MBS market’s growth trajectory. Enhanced data analytics, automated underwriting processes, and blockchain-based securitization platforms are improving transparency, efficiency, and risk assessment in the mortgage origination and securitization value chain. These innovations are not only reducing operational costs but also enabling more granular risk segmentation and tailored product offerings. Moreover, regulatory reforms aimed at increasing market stability—such as stricter capital requirements and enhanced disclosure standards—are fostering greater investor confidence and participation, particularly among global institutional investors seeking diversification.

Another key driver is the evolving regulatory and macroeconomic landscape. The proactive involvement of central banks, especially the U.S. Federal Reserve, in purchasing Agency MBS as part of quantitative easing programs has provided a significant liquidity buffer and compressed spreads, making these securities even more attractive. Furthermore, the gradual normalization of monetary policy is expected to create new opportunities for active portfolio management and trading strategies within the Agency MBS space. The combination of strong government support, robust investor demand, and continuous product innovation is positioning the Agency MBS market for sustained growth over the forecast period.

Regionally, North America continues to dominate the Agency MBS market, accounting for over 70% of global issuance in 2024, driven by the deep and liquid U.S. secondary mortgage market, strong regulatory oversight, and the presence of major GSEs. Europe and Asia Pacific are emerging as growth frontiers, with increasing adoption of securitization frameworks and rising cross-border investment flows. While Latin America and the Middle East & Africa currently represent smaller shares, ongoing financial sector reforms and efforts to deepen local capital markets are expected to provide new growth avenues in these regions. Overall, the global Agency MBS market is characterized by a dynamic interplay of macroeconomic, regulatory, and technological factors, underpinning its long-term growth outlook.

Product Type Analysis

The Agency MBS market is broadly segmented by product type into Pass-Throughs, Collateralized Mortgage Obligations (CMOs), Stripped MBS, and Others. Pass-Through securities remain the dominant product type, accounting for appr

The recent global financial crisis left governments in many advanced countries with very heavy debt burdens and their central banks with huge portfolios of government bonds. With many central banks today still facing policy rates that are uncomfortably close to zero, some may follow the example of Japan, which recently added a new long-term interest-rate target to its short-term target to give itself “yield-curve control.” The Federal Reserve’s foray into similar territory around the Second World War suggests that combining yield-curve control with quantitative easing when government borrowing needs are substantial can create constraints on monetary policy that are not easily removed.

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.

The United States M1 money supply reached approximately **** trillion dollars by September 2025, showing a slight uptick from the previous year. This modest increase follows a period of contraction in late 2022 and early 2023, which stood in stark contrast to the dramatic expansion seen from May 2020 onward. The earlier surge was largely attributed to the Federal Reserve's aggressive quantitative easing measures implemented in response to the economic fallout from the COVID-19 pandemic.

Countercyclical Economics to enhance business cyclical economics, Global World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank (WB) to change from Instrumental for International Lending and International Investment to 1) Managing their own Monetary Policies by expanding the issuance of SDR and fluctuating Interest Rate, 2) Promotional for Business Development through Low-Interest Finance and Subsidies and 3) Controlling for global Market Balance (Equilibrium) of demand-to-supply by using Monetary and other Policies. Natural and/or artificial market agents to create the needed market (1/f noise) that will alleviate the shrinking market activities and the rising unemployment. In addition An undergoing change from pro-cyclical business economics to a countercyclical economics has been observed. Many papers in economics have followed up on such change fluently suggesting countercyclical approaches. Pressured by the 2001 &2007 recessions governments have used extreme very countercyclical measures such as entering into business ventures (the case with the GM) and quantitative easing. Hence, the US contemporaneous policy has been much more straightforward in interfering with the negative market forces than the EU one; however, in most recent times the rising national debt of Greece, Ireland, Portugal, and ext. has prompted EU to start acting more countercyclical than a priory. It becomes obvious that neither neo- liberal economics that greatly contributed to the 2001&07 Recessions nor Keynesian that contributed to the high national debt and the very modest recoveries can explain or somehow interfere with these new arousing conditions of long-term negative market swings and fiscal shortages that prompt consistently high unemployment finally bringing imbalance of market demand-to-supply. Thus, pressured by the market forces the US and the EU are adapting under these new global environment in constant denia l of doing it, the terra incognita of a new world of economics seems more like countercyclical than the status-quo of a priory trickle-down capitalism have allowed. In addition, the long-term China’s market growth scares all indeed, the puzzle is there. “Now, developing countries increasingly produce the kind of high-value-added components that 30 years ago were the exclusive purview of advanced economies. This climb is a permanent, irreversible change. With China and India -- which together account for almost 40 percent of the world's population -- resolutely moving up this ladder, structural economic changes in emerging countries will only have mo re impact on the rest of the world in the future.” MICHAEL SPENCE (2011). This paper continues theoreticizing the ongoing changes even farther in to the overall market economics of using “as it comes as it goes” market agents to create market noise and diversify employment and into enhancing the accounting system of a debit/equity/credit marginal interest rate financing of a higher-security business environment marketplace. The ongoing changes have been difficult for the International Finance Institutions (IFI)’s philosophical acceptance, which approaches have been quite chaotic and limited by not being able to evolve from a priory economics theory. This paper will prove that the contemporaneous market conditions are well adoptable for such change of approaches by which the IFI should use monetary supplies through SDR, monetary policies and low-interest loans and subsidies to emerging market (EM) in need with a general accent on environmentally friendly industries and renewable energies projects. IFI priorities to evolve into preventing from market swings, for marginalizing inflation / deflation, to carryon global market balance of “demand-to-supply”. Hence, the global market possibilities for sustained market development could be succeeded.

The value of M2 money supply in the U.S. amounted to ***** trillion U.S. dollars in 2024, which was a slight increase compared to the previous year. While between 2000 and 2019, the M2 money supply increased at a relatively slow pace, there was an exceptionally sharp increase in 2020, which was the result of the Federal Reserve's quantitative easing in response to the COVID-19 pandemic.

The global food prices have surged to historical highs, and there is no consensus on the reasons behind this round of price increases in academia. Based on theoretical analysis, this study uses monthly data from January 2000 to May 2022 and machine learning models to examine the root causes of that period’s global food price surge and global food security situation. The results show that: Firstly, the increase in the supply of US dollars and the rise in oil prices during pandemic are the two most important variables affecting food prices. The unlimited quantitative easing monetary policy of the US dollar is the primary factor driving the global food price surge, and the alternating impact of oil prices and excessive US dollar liquidity are key features of the surge. Secondly, in the context of the global food shortage, the impact of food production reduction and demand growth expectations on food prices will further increase. Thirdly, attention should be paid to potential agricultural import supply chain risks arising from international uncertainty factors such as the ongoing Russia-Ukraine conflict. The Russian-Ukrainian conflict has profoundly impacted the global agricultural supply chain, and crude oil and fertilizers have gradually become the main driving force behind the rise in food prices.

In June 2025, the yield on a 10-year U.S. Treasury note was **** percent, forecasted to decrease to reach **** percent by February 2026. Treasury securities are debt instruments used by the government to finance the national debt. Who owns treasury notes? Because the U.S. treasury notes are generally assumed to be a risk-free investment, they are often used by large financial institutions as collateral. Because of this, billions of dollars in treasury securities are traded daily. Other countries also hold U.S. treasury securities, as do U.S. households. Investors and institutions accept the relatively low interest rate because the U.S. Treasury guarantees the investment. Looking into the future Because these notes are so commonly traded, their interest rate also serves as a signal about the market’s expectations of future growth. When markets expect the economy to grow, forecasts for treasury notes will reflect that in a higher interest rate. In fact, one harbinger of recession is an inverted yield curve, when the return on 3-month treasury bills is higher than the ten-year rate. While this does not always lead to a recession, it certainly signals pessimism from financial markets.

This document contains statistical data and analysis of global gold demand and prices from 2010 to 2024, presented by Dojipedia, a website focused on Forex investment information. The data is organized quarterly and includes various categories of gold demand such as jewelry fabrication, technology use, investment, and central bank purchases. It also provides the LBMA gold price in US dollars per ounce for each quarter.The document highlights significant events that influenced gold prices and demand during this period. These events include major economic crises, geopolitical tensions, and market shifts. For instance, it mentions the European debt crisis in 2010, the U.S. credit rating downgrade in 2011, the Federal Reserve's quantitative easing tapering signals in 2013, and the COVID-19 pandemic's impact starting in 2020.The data shows how gold demand and prices often increase during times of economic uncertainty or political instability, as investors view gold as a safe-haven asset. For example, gold prices reached record highs in 2024 amid global economic and geopolitical uncertainties.Dojipedia presents itself as a platform with five years of Forex market investment experience. The site offers free educational content on technical analysis methods such as Elliott Wave, ICT Trading, and Smart Money Concept. It also mentions plans to publish free books on technical analysis.The document includes a disclaimer stating that the information provided is for general purposes only and not financial advice. It warns about the high risks associated with investing in financial markets like CFDs, Forex, cryptocurrencies, and gold. The disclaimer emphasizes that leveraged products may not be suitable for all investors due to the high risk to capital.Overall, this document serves as a comprehensive resource for those interested in gold market trends and their relationship to global economic events over the past decade and a half.

Between 2002 and 2024, the annual value of newly printed U.S. banknotes fluctuated considerably, with a noticeable decline in recent years. The peak occurred in 2012, when the Bureau of Engraving and Printing issued banknotes worth ***** billion U.S. dollars. During the quantitative easing period of 2021, production reached ***** billion U.S. dollars - the third highest level in the two-decade span. By 2024, the figure had fallen sharply to ***** billion U.S. dollars. In contrast, the total value of U.S. currency in circulation continued to rise, reaching **** trillion U.S. dollars in 2024.