WALCL
Total assets on the Fed's balance sheet (QE / QT tracker)
Official name: Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level
Latest value
6693871.0000
as of 2026-04-08
All-time percentile
78th
1-year change
-0.4%
Time series
Showing 261 of 261 data points
About this series
Federal Reserve Total Assets — weekly snapshot of everything on the Fed's balance sheet. This grows during quantitative easing (when the Fed buys bonds to inject liquidity) and shrinks during quantitative tightening (when it lets bonds roll off).
Why it matters: Fed balance sheet changes have been correlated with risk-asset returns over the post-2009 era. QE expansions have generally accompanied rising stock and bond prices; QT has accompanied weakness (2018, 2022). It's one of the cleanest measures of "liquidity conditions" as set by the central bank.
How to read it: Look at the direction and rate of change, not the absolute level. A rising balance sheet = Fed injecting liquidity; falling = withdrawing. The level is in millions of dollars — the current ~$6.7 trillion is down from the ~$9 trillion peak in early 2022 after the COVID-era QE.
Caveats: Correlation with asset prices is robust in the post-2009 period but less clear in the pre-QE era. The composition (Treasuries vs MBS vs repo operations) matters for interpretation, not just the total.