The Phaserl


Fed Balance Sheet Hits $4 Trillion

from Armstrong Economics:

The Federal Reserve’s balance sheet expanded to a record $4 trillion in the week ended December 18th. The Fed balance sheet has expanded thanks to QE buying $85 billion a month in Treasurys and mortgage related assets since last January. The Fed’s balance sheet has expanded from $891 billion in 2007 without creating inflation. This is only one side of the coin. The other is the fiscal side that is controlled by Congress.

The Fed now holds $1.5 trillion in mortgage-related assets and $2.2 trillion in Treasurys. The central bank also holds $326 billion in other assets. The junk bonds from mortgages the banks dumped on the Fed will eventually become a drag. But like any program, once implemented, it is hard to stop.

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