Fed Balance Sheet
Federal Reserve total assets ($M, weekly)
| Property | Value |
|---|---|
| Category | macro |
| Unit | $M |
| Resolution | 1d |
| Assets | MACRO |
| Tier | Basic |
| API Endpoint | GET /v1/macro/monetary |
| Field | fed_balance_sheet |
Overview
Total assets on the Federal Reserve's consolidated balance sheet, in millions of dollars, weekly (FRED WALCL). Includes Treasury securities, agency MBS, repo lending, and emergency facilities. Expansion is associated with quantitative easing (QE), contraction with quantitative tightening (QT).
Interpretation
- Rising balance sheet (QE): the Fed creates reserves to buy assets, expanding the monetary base — historically the strongest single macro driver of BTC bull markets.
- Falling balance sheet (QT): reserves drain from the system, tightening liquidity — historically coincides with BTC drawdowns.
- The level of reserves matters more than the absolute balance-sheet size for liquidity transmission.
Use Cases
- Use as the primary input to BTC macro liquidity models.
- Combine with
macro_reverse_repoandmacro_tga_balanceto computemacro_net_liquidity, a more accurate liquidity gauge. - Track around FOMC meetings to detect policy-pivot inflection points.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/macro/monetary?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- Net Liquidity — Fed Balance Sheet minus RRP minus TGA ($M, weekly)
- Reverse Repo (Overnight) — Overnight Reverse Repo facility usage ($B, daily)
- Treasury General Account — US Treasury General Account balance at the Fed ($M, weekly)
- ECB Total Assets — European Central Bank total assets (€M, weekly)