The Fed Has Added $344B in Treasury Bills in a year
Exploring Finance | SchiffGold | 29 Aug, 2026
The following analysis breaks down the Fed balance sheet in detail. It shows different parts of the balance sheet and how those amounts have changed. It also shows historical interest rate trends.
Breaking Down the Balance Sheet
The Fed has quietly been doing Quantitative Easing since February. The pace of accumulation has slowed in recent months, and was even negative in August. When QE was turned back on, it was intended for purchases of Bills to keep liquidity high. As shown below, this is still happening with the Fed accumulating $29B of Bills in August. The net drop came from MBS and 5-10 year notes rolling off.
Figure: 1 Monthly Change by Instrument
Fed balance sheet
Federal Reserve
foreign debt holdings
inflation
interest rates
liquidity
monetary policy
QE
quantitative easing
Treasury Bills
Treasury Yields
US debt