The Fed’s Balance Sheet remained essentially unchanged for the second week in a row. A QT pause, a Fed Funds Rate pause and back door QE via BTFP. Net net, the Fed is easing.
- Treasuries: The Fed’s Treasury security holdings decreased by $2.1 billion for the week-ended June 14th and decreased by $36.2 billion on a rolling 4-week basis.
- Agencies: The Fed’s Government Agency security holdings decreased by $63.7 million over the same period and decreased by $16.3 billion on a rolling 4-week basis.
- The Fed’s balance sheet holdings: https://www.newyorkfed.org/markets/soma-holdings
- Excel file: Our Excel file detailing the Fed’s holdings of Treasury and Agency securities: HERE.
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