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 386.6 billion U.S. dollars. During the quantitative easing of 2021, 319.7 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 162.4 billion U.S. dollars. At the same time, the value of currency in circulation reached 2.29 trillion U.S. dollars in 2023.

Money Supply M0 in the United States decreased to 5732900 USD Million in April from 5775200 USD Million in March 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 Currency in Circulation (CURRCIR) from Aug 1917 to May 2025 about 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 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.

In 2024, China’s monetary authority, the People’s Bank of China, issued more than 13 trillion yuan which was the highest amount issued in one year so far. Over the past years, the value of printed money increased steadily. The issuing of currency was one function of a central bank. Maintaining price stability One of the main policy objectives of the People’s Bank of China was to maintain price stability. Typically, countries set the desired inflation target and the central bank implements the necessary policies to achieve the said target. Usually, China keeps its inflation target at around three percent, but in 2021, the inflation rate dropped to under one percent. If the inflation rate is too low, central banks can issue more currency and decrease the interest rate. In the opposite scenario, if the inflation rate is too high central banks try to reduce the amount of money in circulation by increasing the interest rate or decreasing bond prices. Managing the economy In capitalist market economies, economies usually undergo a boom and bust cycle. Central banks attempt to counteract this cyclical development to soften the impact for its citizens. For instance, the Chinese government aims to maintain an unemployment rate of around four percent. However, crises such as the 2008 financial crisis and the outbreak of COVID-19 have an unforseen impact on the economy. To lower the employment rate, the People’s Bank engaged specific monetary policies to stimulate the economy with the aim of increasing job creation.

The annual volume of new banknotes printed in the United States has fluctuated since 2002. In 2022, six billion banknotes were printed by the Bureau of Engraving and Printing in the United States. This was the second lowest volume of banknotes printed during the observed period. At the same time, the total volume of currency in circulation increased steadily throughout the observed period and exceeded 54 billion banknotes in 2022.

Graph and download economic data for Federal Debt: Total Public Debt (GFDEBTN) from Q1 1966 to Q1 2025 about public, debt, federal, government, and USA.

Graph and download economic data for Federal Debt Held by Federal Reserve Banks (FDHBFRBN) from Q1 1970 to Q1 2025 about debt, federal, banks, depository institutions, and USA.

Adding to national debt is an inevitable fact of being President of the United States. The extent to which debt rises under any sitting president depends not only on the policy and spending choices they have made, but also the choices made by presidents and congresses that have come before them.

Ronald Reagan and George W. Bush President Ronald Reagan increased the U.S. debt by around 1.86 trillion U.S. dollars, or 186.36 percent. This is often attributed to "Reaganomics," in which Reagan implemented significant supply-side economic policies in which he reduced government regulation, cut taxes, and tightened the money supply. Spending increased under President George W. Bush in light of the wars in Iraq and Afghanistan. To finance the wars, President Bush chose to borrow the money, rather than use war bonds or increase taxes, unlike previous war-time presidents. Additionally, Bush introduced a number of tax cuts, and oversaw the beginning of the 2008 financial crisis. Barack Obama President Obama inherited both wars in Iraq and Afghanistan, and the financial crisis. The Obama administration also did not increase taxes to pay for the wars, and additionally passed expensive legislation to kickstart the economy following the economic crash, as well as the Affordable Care Act in 2010. The ACA expanded healthcare coverage to cover more than 30 million more Americans through programs like Medicare and Medicaid. Though controversial at the time, more than half of Americans have a favorable view of the ACA in 2023. Additionally, he signed legislation making the W. Bush-era tax cuts permanent.

Government Debt in the United States decreased to 36213557 USD Million in April from 36214310 USD Million in March of 2025. This dataset provides - United States Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

In October 2024, the public debt of the United States was around 35.46 trillion U.S. dollars, a slight decrease from the previous month. The U.S. public debt ceiling has become one of the most prominent political issues in the States in recent years, with debate over how to handle it causing political turmoil between Democrats and Republicans. The public debt The public debt of the United States has risen quickly since 2000, and in 2022 was more than five times higher than in 2000. The public debt is the total outstanding debt that is owed by the federal government. This figure comprises debt owed to the public (for example, through bonds) and intergovernmental debt (debt owed to various governmental departments), such as Social Security. Debt in Politics The debt issue has become a highly contentious topic within the U.S. government. Measures such as stimulus packages, social programs and tax cuts add to the public debt. Additionally, spending tends to peak during large global events, such as the Great Depression, the 2008 financial crisis, or the COVID-19 pandemic - all of which had a detrimental impact on the U.S. economy. Although both major political parties in the U.S. tend to blame one another for increases in the country's debt, a recent analysis found that both parties have contributed almost equally to national expenditure. Debate on raising the debt ceiling, or the amount of debt the federal government is allowed to have at any one time, was a leading topic in the government shutdown in October 2013. Despite plans from both Democrats and Republicans on how to lower the national debt, it is only expected to increase over the next decade.

Money Supply M2 in China decreased to 325173.93 CNY Billion in April from 326055.46 CNY Billion in March of 2025. This dataset provides - China Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of November 2021, the U.S. goverment dedicated 26.46 percent of the GDP to soften the effects of the coronavirus pandemic. This translates to stimulus packages worth 5.54 trillion U.S. dollars

Economic impact of the Coronavirus pandemic

The impact of the COVID-19 pandemic was felt throughout the whole world. Lockdowns forced many industries to close completely for many months and restrictions were put on almost all economic activity. In 2020, the worldwide GDP loss due to Covid was 6.7 percent. The global unemployment rate rocketed to 6.47 percent in 2020 and confidence in governments’ ability to deal with the crisis diminished significantly.

Governmental response

In order to stimulate the economies and bring them out of recession, many countries have decided to release so called stimulus packages. These are fiscal and monetary policies used to support the recovery process. Through application of lower taxes and interest rates, direct financial aid, or facilitated access to funding, the governments aim to boost the employment, investment, and demand.

Stimulus packages

Until November 2021, Japan has dedicated the largest share of the GDP to stimulus packages among the G20 countries, with 53.69 percent (308 trillion Yen or 2.71 trillion U.S. dollars). While the first help package aimed at maintaining employment and securing businesses, the second and third ones focused more on structural changes and positive developments in the country in the post-pandemic future.

The total receipts of the United States government added up to about 4.44 trillion U.S. dollars in 2023. This was a slight decrease from 2022 levels. By 2029, the total receipts of the U.S. government are expected to increase to about 6.8 trillion U.S. dollars.

Key information about India Total Loans

• India Total Loans was reported at 2,048.209 USD bn in Dec 2024
• This records an increase from the previous number of 2,037.410 USD bn for Sep 2024
• India Total Loans data is updated quarterly, averaging 898.708 USD bn from Dec 1998 to Dec 2024, with 105 observations
• The data reached an all-time high of 2,048.209 USD bn in Dec 2024 and a record low of 82.701 USD bn in Dec 1998
• India Total Loans 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: Total Loans: USD: Quarterly

CEIC converts quarterly Total Loans into USD. The Reserve Bank of India provides Total Loans in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Total Loans cover lenders as Scheduled Commercial Banks.