by Wolf Richter
Wolf Street
Quantitative Tightening has shed 41% of the assets that the Fed had added during pandemic QE.
Another milestone in the Fed’s QT program: Total assets on the Fed’s balance sheet dropped to $6.99 trillion, according to the Fed’s weekly balance sheet today. The balance sheet first reached this level in May, 2020, after nearly three months of mega QE (blue arrow in the chart).
In October, total assets fell by $53 billion. Since the end of QE in April 2022, total assets have declined by $1.97 trillion, removing 41% of the assets the Fed had added during pandemic QE.
